10:20 am: The G7 ready to impose sanctions with “massive consequences” for Russia
The G7 finance ministers assured on Monday that they were ready to impose “within a very short time” economic and financial sanctions with “massive and immediate consequences on the Russian economy” in the event of military aggression once morest Ukraine.
“Our immediate priority is to support efforts to de-escalate the situation,” the ministers from the UK, US, France, Canada, Germany, Italy and Japan wrote in a statement. But “any new military aggression by Russia once morest Ukraine will be the subject of a rapid and effective response”, assures the group of seven major powers chaired this year by Berlin.
