Treasury Secretary Yellen: Concerns about China strategy are shared among G-7 finance

Treasury Secretary Yellen is speaking on China/Russia from meetings in Frankfurt, and says:

• Concerns about China strategy are shared among G-7 finance ministers.
• If we were to use secondary Russian sanctions on banks, we would do so in a judicious manner.
• Not every detail needs to be worked out on Russian asset plan by time of G-7 leaders Summit in Puglia.
• There does not need to be detailed coordination between G-7 countries on China trade actions, but more forceful to speak with China as a group on overcapacity.
• Bankers in Frankfurt meeting expressed very strong commitment to enforcing Russian sanctions stopping flow of military materials to Russia

G-7 finance ministers will be meeting in Italy later this week

This article was written by Greg Michalowski at www.forexlive.com.