G7 to provide £15.4bn support

THE G7 nations are providing $19.8bn (£15.8bn) in aid to bolster Ukraine’s public finances, Germany’s finance minister has said.

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

He said the goal is to ensure that Ukraine’s financial situation does not affect its ability to defend itself from Russia’s invasion.

“We agreed on concrete actions to deepen multilateral economic co-operation and underlined our commitment to our united response to Russia’s war of aggression against Ukraine and to our unwavering support to Ukraine,” a G7 statement reads.

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.”