The G7 finance ministers warned in a statement to react quickly and forcefully to a Russian attack on Ukraine, although the priority is to avoid an escalation.
“Our immediate priority is to support efforts to prevent escalation. However, we reiterate that in the event of Russian military aggression against Ukraine we will have a swift, coordinated and forceful response,” the statement released by the German ministry said.
“We are prepared to impose economic and financial sanctions that would have a large and immediate effect on the Russian economy,” it adds.
The ministers also reiterate their economic support to Ukraine together with the IMF, which since 2014 has reached 48,000 million dollars.
“We will continue to monitor the situation and are ready to provide further assistance to Ukraine,” the statement said.
German Finance Minister Christian Lindner said after the statement was released that Russia must be clear that the G7 is ready to react in the event of aggression.
“Russia has to be clear that in the event of a violation of international law the G7 will react quickly and forcefully,” Lindner said.
Germany currently holds the presidency of the G7, an organization made up of the world’s seven major industrialized nations.
In addition to Germany, France, the United Kingdom, Italy, Japan, Canada and the USA belong to the G7. (I)
Source: Eluniverso
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