US Tsy Dept, G7 Officials Issue Joint Statement on Russia War in Ukraine

G7 Finance Ministers and Central Bank Governors´ Statement on the Global Economic Impact of Russia´s War of Aggression Against Ukraine and G7 Support to Ukraine.

• We remain steadfast in our support for and solidarity with Ukraine. Equally, we remain united in our condemnation of Russia’s war of aggression against Ukraine and the tragic loss of life resulting from the war and reiterate the statement made by our Leaders on 11 October 2022.
• Russia’s war of aggression is causing significant global economic disruptions, adding stresses to a global economy that was only beginning to recover from the pandemic and work through supply-demand mismatches. We urge Russia to immediately end its unjust and brutal war – this is both a moral imperative and the single most important priority to improve the outlook for the global economy at this difficult juncture. Russia’s war has caused substantial further increases in commodity prices, including energy and food, exacerbating elevated levels of inflation in many economies around the globe and felt disproportionally by low and middle-income countries.