Ukrainian service members operate a 2A65 Msta-B howitzer during artillery and anti-aircraft exercises near the border with Russia-annexed Crimea in the Kherson region of Ukraine, in this handheld photo released on January 28, 2022.

BERLIN, Feb 14 – Finance ministers from the G7 group of major Western economies warned Russia on Monday of “massive” economic consequences if it decides to invade Ukraine, whose economy they also promised swift and decisive support.

“The current Russian military deployment on Ukraine’s borders is a matter of great concern. We, the G7 finance ministers, underline our readiness to act quickly and decisively to support the Ukrainian economy,” they wrote in a joint statement.

“Any new military aggression by Russia against Ukraine will be responded to in a swift, coordinated and forceful manner,” they added. “We are prepared to collectively impose economic and financial sanctions that will have massive and immediate consequences on the Russian economy.”

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