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G7 finance ministers have warned Russia of “major” economic consequences if it decides to invade Ukraine.
The G7 also promised assistance to the Ukrainian economy.
“The constant Russian military presence on the borders of Ukraine is a cause for great concern. “We, the G7 finance ministers, emphasize our readiness to react immediately and decisively to support the Ukrainian economy,” the joint statement said.
“Any further aggression by Russia against Ukraine will be followed by a swift, coordinated and vigorous response,” the G7 ministers said.
“We are prepared to jointly impose economic and financial sanctions, which will be massive and will have immediate consequences for the Russian economy,” the statement said.
The G7 includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.
According to US intelligence, Russia has amassed 130,000 troops along Ukraine’s borders and deployed advanced weapons. The West says the rally could be Moscow’s preparation to oust Ukraine, but the Kremlin denies any such plans.
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