The G7 and G20 financial leaders are meeting this week.

On February 23, a meeting of finance ministers and heads of central banks from the G7 countries is scheduled in the Indian city of Bengaluru. Financial leaders from the G7: the UK, Canada, France, Germany, Italy, Japan, and the US plan to discuss punitive measures against Russia in response to the war it unleashed. The main discussion topics will be support for Ukraine and sanctions against Russia to increase pressure on the aggressor state to end its war against Ukraine. This week, a meeting of G20 financial leaders from the world’s largest economies is also scheduled. The war in Ukraine and the global economy are also expected to be the focus of the G20 talks. In addition, inflation fueled by the Russian war, energy and food prices, and support for emerging market economies facing debt problems will be discussed.