The Scotsman

G7 to provide billions in aid to Ukraine

- By ANGUS HOWARTH

The G7 nations have agreed to provide $19.8 billion (£15.8 billion) in economic aid to Ukraine to ensure its finances do not hinder its ability to defend itself from Russia's invasion.

German finance minister Christian Lindner said that $9.5 billion (£7.6 billion) of the total was mobilised at meetings of the G7 finance ministers in Koenigswin­ter, Germany, this week.

"We agreed that Ukraine's financial situation must have no influence on Ukraine's ability to defend itself successful­ly," he said. "We need to do our utmost to end this war."

Russia's invasion touched on almost every topic of the finance ministers' meetings this week, from the need to reduce reliance on Russian energy to reforming relationsh­ips between countries to maintain economic stability.

"Russia's war of aggression is causing global economic disruption­s, impacting the security of global energy supply, food production and exports of food and agricultur­al commoditie­s, as well as the functionin­g of global supply chains in general," a G7 statement said.

US treasury secretary Janet Yellen and other leaders spoke this week about the need for allies to put together enough additional aid to help Ukraine "get through" the Russian invasion.

"All of us pledged to do what's necessary to fill the gap," Ms Yellen said on Thursday as the ministers finished their first of two days of talks. We're going to put together the resources that they need."

The finance ministers of the G7 have also grappled with deepening inflation and food security concerns.

 ?? ?? Christian Lindner says £7.6bn has been mobilised
Christian Lindner says £7.6bn has been mobilised

Newspapers in English

Newspapers from United Kingdom