The G7 summit at Schloss Elmau on June 28, 2022 near Garmisch-Partenkirchen, Germany.
Thomas Lohnes | Getty Images
Financial leaders of the Group of Seven will meet on Feb. 23 to discuss measures against Russia that can put pressure on it to finish the Ukraine war, Japan’s Finance Minister Shunichi Suzuki said on Tuesday.
Japan will chair the meeting of finance ministers and central bank governors from the G7 nations within the Indian city of Bengaluru. The meeting will come almost a yr since Russia invaded Ukraine, calling it a “special military operation.”
The war has raged on despite a slew of punitive measures G7 and other countries have taken against Russia.
“Support for Ukraine and sanctions against Russia shall be the fundamental topics of discussion,” Suzuki told a news conference. “We are going to proceed to closely coordinate with G7 and the international community to reinforce the effect of sanctions to realize the last word goal of prompting Russia to withdraw.”
Japan chairs G7 ministerial meetings this yr within the run-up to the May 19-21 summit meeting of G7 leaders in Hiroshima. The G7 comprises Britain, Canada, France, Germany, Italy, Japan, and america.
The G7 meeting shall be followed later within the week by a broader gathering of G20 financial leaders from the world’s major economies, which shall be hosted in Bengaluru by India, which has the G20 presidency.
The Ukraine war and the worldwide economy are expected to be the main focus of the G20 talks.
It’s going to discuss inflation that has been heightened by Russia’s war, energy and food prices, and support for emerging market economies facing debt problems. A failure to tackle emerging market debt could lead on to a financial crisis, a senior Japanese official said earlier.
“By contributing to discussions on these problems, we hope to provide significant results that can result in stable and sustainable global growth,” Suzuki said.
