G-7 to Make Russia Pay Costs in Event of Invasion

Politics

Berlin, Feb. 19 (Jiji Press)--Foreign ministers of the Group of Seven major powers Saturday agreed to make Russia pay "unprecedented" costs, including by imposing sanctions, if its military invades Ukraine.

In a statement, the ministers said they "remain gravely concerned" over Russia's military buildup near Ukraine and urged Moscow to de-escalate the tensions including by withdrawing troops as announced recently.

"Any further military aggression against Ukraine will have massive consequences, including financial and economic sanctions on a wide array of sectoral and individual targets that would impose severe and unprecedented costs on the Russian economy," the statement also said.

The document was adopted at Saturday's emergency G-7 meeting in Munich, southern Germany, on the sidelines of the Munich Security Conference, which started Friday.

The G-7 ministers confirmed their support for Ukraine's sovereignty and territorial integrity and underscored their determination to pursue a peaceful diplomatic resolution of the Ukraine crisis.

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