G7 Countries Ready To Impose Economic Sanctions Against Russian Economy In Event Of Russia's Invasion Of Ukraine

G7 finance ministers (the United States, Canada, the United Kingdom, Germany, France, Italy, and Japan) have warned that they are ready to impose economic and financial sanctions against Russia, which will have large-scale and immediate consequences for the Russian economy, in the event of a Russian invasion to Ukraine.

This is indicated in a statement by the finance ministers of the G7 countries, Ukrainian News Agency reports.

"Our immediate priority is to support efforts to de-escalate the situation. However, we reiterate that, in particular, any further Russian military aggression against Ukraine will be met with a swift, coordinated and decisive response. We are ready to collectively impose economic and financial sanctions that will have widespread and immediate consequences for the Russian economy," the statement reads.

The ministers stressed their readiness to act swiftly and decisively to support the Ukrainian economy.

As Ukrainian News Agency earlier reported, the U.S. says Russia could invade Ukraine at any moment.

On February 13, President Volodymyr Zelenskyy and U.S. President Joe Biden discussed security, sanctions and Russian aggression.

Zelenskyy invited Biden to visit Ukraine in the coming days to help promote de-escalation.