G-7 Agrees to Implement Powerful Russia Sanctions

Politics Economy

Washington, March 1 (Jiji Press)--The Group of Seven finance ministers and central bank chiefs, in their virtual meeting Tuesday, agreed to work together to implement powerful sanctions on Russia over its invasion of Ukraine and take further actions swiftly.

In a press conference after the G-7 talks, Christian Lindner, Germany's finance minister, expressed readiness to impose additional sanctions on Russia, saying that the G-7 officials discussed measures that could be taken to maximize the damage to the Russian economy.

Germany holds the rotating G-7 presidency.

The G-7 officials also confirmed their countries' solidarity with the government and people of Ukraine. They were joined by Ukrainian Finance Minister Serhiy Marchenko in their discussions.

Japanese Finance Minister Shunichi Suzuki told reporters after the virtual meeting, "In order to protect the foundation of international order, we'll act decisively and show that Russia's violence comes with a heavy price."

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