G7 finance ministers commit to strengthening sanctions against Russia and providing a $50B loan to Ukraine.

G7 finance ministers have committed to enhancing measures to prevent Russia from circumventing sanctions imposed after its invasion of Ukraine. They plan to address violations of the oil price cap and increase costs associated with using shadow fleets for evasion. Additionally, the G7 announced a $50 billion loan agreement for Ukraine, funded by seized Russian assets. The collective effort includes collaboration with the EU, Australia, and financial institutions to ensure compliance.

October 26, 2024
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