Suzuki: G7 Confirms "Unwavering" Commitment To Ukraine

Japanese Finance Minister Shunichi Suzuki has told reporters, after a meeting of G7 finance ministers in Bengaluru, India, that the group will maintain the current regime of sanctions on Russia.

• Suzuki said, following the meeting called to discuss the group's Ukraine response, that any new measures or sanctions will depend on the effectiveness of current sanctions and the group did not discuss a reduction in price cap on Russian crude oil exports.
• Suzuki: "We have to watch and be careful about evasion and circumventing sanctions."
• Suzuki confirmed that, "The G7 will stand united and reaffirm its position against Russia."
• Suzuki says that financial support commitments for Ukraine have come to USD$39 billion for 2023.
• Focus now turns to the G20 finance and banking ministerial which kicks off tomorrow with with discussions planned on "shared global challenges of the 21st century... issues related to global economy, global health, and international taxation."
• G7 ministers have expressed a desire to expand the Russia sanction response to include more G20 members but unlikely to bear fruit with India, the current G20 President, firmly opposed to any measures which would restrict access to Russian oil.