Doubling support for Ukraine and weakening russia. What was said at the G7 finance ministers’ meeting?

US Treasury Chief Janet Yellen addressed the summit in Japan.

talking points

With Ukrainians until victory. Doubling support for Ukraine from both the U.S. and G7 countries is a priority, as is increasing pressure on Moscow and the third countries that help Putin circumvent Western sanctions.

The main goal is ➡ G7 countries intend to minimise the ability of the russian economy to finance the criminal war against Ukraine. The main indicator of the effectiveness of Western sanctions is the Kremlin’s feverish attempts to circumvent them.

Trump of the Year Severe pressure on companies and governments that help russia evade sanctions and smuggle purchases from the West will be the “centerpiece” of Western policy in 2023.

Economic front The US has led a coalition of more than 30 countries to impose “heavy economic costs on Russia for its war”. Within a year, the West’s efforts have seriously “degraded russia’s military-industrial complex capabilities”.

A blow to oil and gas 🛢 russia’s commodity revenues are down 52% in 3 months compared to 2022. the budget deficit has already reached $43 billion (3.4 trillion rubles) and exceeded the planned full year target of $37 billion (2.9 trillion rubles).

The russian economy is steadily gaining momentum and is on the course of the cruiser Moskva. Everyone can see that, but not the Kremlin.

Janet Yellen/Ting Shen/Bloomberg