G7 warns Russia of ‘massive’ consequences for attacking Ukraine

LIVERPOOL, England: The Group of Seven economic powers on Sunday asked Russia to “de-escalate” its military build-up near the Ukrainian border, warning that an invasion would have “massive consequences” and serious economic consequences for Moscow. There will be pain.
The foreign ministers of the United States, Britain and the rest of the G-7, along with the EU’s head of foreign affairs, issued a joint statement declaring themselves “united in our condemnation of Russia’s military build-up and aggressive rhetoric towards Ukraine”.
The G-7 called on Russia to “de-escalate, pursue diplomatic channels and abide by its international commitments on transparency of military activities” and praised Ukraine’s “restraint”.
“Any use of force to alter borders is strictly prohibited under international law. Russia should have no doubt that further military aggression against Ukraine will have massive consequences and serious costs in response,” the statement said.
The movement of Russian weapons and troops in the border area dominated the weekend talks between foreign ministers of the G-7 wealthy democracies in the English city of Liverpool.
The US and its allies worry that the buildup could be a harbinger of an invasion, and have vowed to impose heavy sanctions on Russia’s economy should it happen.
Moscow denied having any plans to attack Ukraine and accused Kiev of an alleged offensive design.
The host of the conference, British Foreign Secretary Liz Truss, said the G-7 was sending “a powerful signal to our adversaries and our allies”.
The statement promised a “general and comprehensive response” but did not contain any details. Truss said the G-7 was “considering all options” when it came to economic sanctions. US Secretary of State Antony Blinken said on NBC’s “Meet the Press” that “we are prepared to take the kind of steps we have avoided taking in the past” if Russia does not back down.
The US and its allies have played down talk of a military response to Ukraine’s defense, with efforts focusing on tougher sanctions affecting the Russian economy rather than just individuals.
In the US, journalists asked President Joe Biden on Saturday about the possibility of sending combat troops to Ukraine, and he said the idea had never been considered. “Are you ready to go to Ukraine to send American troops to war and fight the Russians on the battlefield?” They said.
Biden, who spoke to Russian President Vladimir Putin over a video call last week, said he had made it clear that in the event of an invasion, “the economic consequences for their economy are going to be disastrous. destructive. ,
Truss said Biden had made it clear to Putin that the US stance “carries the overall support of the G-7 countries. And this should be of great concern to Vladimir Putin.”
China’s power in the Indo-Pacific region and the ailing Iran nuclear deal were also on the agenda for a meeting of top diplomats from the UK, the United States, Canada, France, Germany, Italy and Japan at the Dockside Museum in Liverpool. ,
Getting a unified response to global crises from the G-7, a grouping of countries with differing interests, has often proved difficult.
Germany plans to soon receive gas from Russia via the controversial Nord Stream 2 pipeline, which bypasses Ukraine – although Blinken said it was difficult to see the pipeline operational “if Russia relents on its aggression on Ukraine.” is renewed, if it takes fresh action.”
“So I think President Putin has to look into that as well, because he’s thinking about what he’s going to do next,” he said.
Britain, which does not depend on Russian gas, has also criticized the pipeline – but faces difficult questions about London’s financial district and property market, both hubs of Russian money.
UK banks and financial authorities have long been criticized for turning a blind eye to unfairly earned profits.
Truss stressed that Britain has “very strong anti-corruption and anti-money laundering rules”, but also suggested that Russian money and Russian gas came at a high price.
“We cannot achieve short-term economic gains at the expense of our long-term freedom and democracy,” she said.
The G-7 nations are also concerned about China’s growing economic and technological dominance, especially in developing countries. The G-7 has launched a “Build Back Better World” initiative to offer developing countries funding for large infrastructure projects as an alternative to funding from China, which, the West argues, often have strings attached. Huh.
Truss, who also invited ministers from the Association of Southeast Asian Nations to the Liverpool meeting, said the G-7 was “concerned about China’s coercive economic policies.”
“What we have set out is a positive agenda about ensuring that countries have alternative sources of investment, alternative sources of trade,” she said. “And we are making sure we follow the rules-based international system for business – and making sure others are following it”.
A unified stance towards China is still proving elusive, however, with the US and UK generally more rigid than other G-7 members.