G7 warned Russia about "sanctions with large-scale consequences"

The statement of the heads of the G7 financial departments says that in the event of a Russian invasion of Ukraine, the countries of the association are ready to act quickly and decisively, and the sanctions imposed against RUSSIAnegatively impact its economy.

The G7 countries are ready to impose sanctions against Moscow in the event of Russia's invasion of Ukraine, which will entail "large-scale and immediate consequences" for the country's economy. This is stated in the joint statement of the G7 finance ministers.

“The ongoing build-up of Russian military power near the borders of Ukraine is a matter of serious concern. We, the G7 finance ministers, underline our readiness to act quickly and decisively to support the Ukrainian economy,” the statement said.

The heads of the financial departments of the G7 noted that in the event of Russian aggression, the countries of the association would act in a coordinated manner, and the economic and financial sanctions imposed "would have large-scale and immediate consequences for the Russian economy."

The informal association of the G7 countries ("Big Seven") includes Germany, France, Italy, Japan, the usa , CANADA and the UK. Previously, the format was called G8, but in 2014, after the referendum on the annexation of Crimea, Russia was no longer invited to meetings.

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