G7 commits $19.8B for Ukraine support

Photo Credit: Anadolu Agency (AA)

Russia’s war causing global economic disruptions, affecting global energy supply security, food production, G7 says

The Group of Seven (G7) countries announced Friday that they have mobilized a $19.8 billion budget support to help Ukraine close its financing gap and continue ensuring the delivery of basic services to the Ukrainian people.

“We continue to increase Russia´s costs of its war by isolating Russia and Belarus from the global economy,” it said in a statement.

“We remain committed to fully implementing and enforcing our economic and financial sanctions and remain vigilant against sanctions evasion, circumvention and backfilling. We welcome the ongoing work of the multilateral Russian Elites, Proxies and Oligarchs Task Force,” it said.

“Russia´s war of aggression is causing global economic disruptions, impacting the security of global energy supply, food production and exports of food and agricultural commodities, as well as the functioning of global supply chains in general,” it added.

-AA

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