The G7 finance ministers have announced $44B in increased support for Ukraine and new sanctions against Russia.

It is noted that similar support from the Big Seven allowed approval  of the IMF’s four-year program for Ukraine, enabling Ukrainian authorities to ensure the government’s function, continue to provide essential services, carry out the most critical repairs of damaged infrastructure and stabilize the economy.

At the same time, ministers and heads of central banks said that they “look forward to the rapid implementation of structural reforms in Ukraine within the framework of the IMF program”, which will contribute not only to stabilization and post-war recovery but also “will help to catalyze further financial support from other countries and institutions, and the private sector”.

The G7 finance ministers also reaffirmed its “unwavering determination to implement and enforce sanctions and other economic measures against the Russian Federation”.