Bloomberg Talks
Paolo Gentiloni Talks Relationship with UK
May 24, 2024
Paolo Gentiloni, the EU's economy commissioner, expresses hope for warmer relations with UK. Topics include windfall profit allocation, G7 agreements, EU-US debt comparison, and optimism for EU-UK relations post-election.
06:20
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Quick takeaways
- EU aims for closer ties with future UK government, hopeful for a greater rapprochement.
- G7 united on addressing Chinese overcapacity, focusing on information exchange to maintain global trade benefits.
Deep dives
EU Discussions on Russian Frozen Assets
The EU is actively engaged in discussing the utilization of Russian frozen assets to benefit Ukraine's defense. The EU has finalized a proposal to dedicate windfall profits from these assets to support Ukraine, with plans to start dispersing funds in July. Progress is being made in narrowing differences and focusing on decision details, aiming for a possible political agreement before the upcoming G7 leaders meeting.
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