March 2, 2024

SAO PAULO, March 1 (Reuters) - The United States and its allies will keep seeking options to tap $300 billion in frozen Russian sovereign assets, U.S. Treasury Secretary Janet Yellen said after days of rancorous talks failed to seal a deal to aid Ukraine's war effort.

Yellen told Reuters in an interview on Thursday that any action would need an airtight legal rationale, which emerged as a sticking point in negotiations this week on the sidelines of a meeting of Group of 20 (G20) finance ministers hosted by Brazil.

Yellen said she challenged French Finance Minister Bruno Le Maire to help develop the options sought by Group of Seven (G7) leaders in time for their June summit after Le Maire publicly rejected her view that there is a legal case for monetizing the assets.

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