Secretary of the Treasury Janet L. Yellen met with European Commissioner for Economy Paolo Gentiloni on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting in Rio de Janeiro, Brazil, today. During their discussion, Secretary Yellen praised Commissioner Gentiloni for the EU economy's continued strength, noting slowing inflation and a robust labor market.
Secretary Yellen expressed gratitude to Commissioner Gentiloni for the European Commission’s partnership in supporting Ukraine amidst Russia’s ongoing conflict. The Secretary and Commissioner deliberated on the next steps following the commitment made by G7 Leaders in Apulia to initiate "Extraordinary Revenue Acceleration" loans. These loans aim to unlock the value of immobilized Russian sovereign assets to support Ukraine's resistance and contribute to its long-term reconstruction.
