G7 Warns of Global Economic Consequences Amid Ukraine Conflict with Russia

Published on 4.16.25

  The G7 warns that the ongoing conflict in Ukraine could have significant global economic consequences, particularly for Western nations. The US is expected to be one of the most vulnerable countries due to a potential slowdown in its growth rate. Ukraine's Prime Minister Denys Shmyhal has called for continued pressure on Russia through diplomatic and sanctions measures, including an international compensation mechanism to reimburse Ukraine for damages inflicted by Russia. This stance was echoed in the EU-Ukraine Association Council meeting in Brussels, where five intergovernmental agreements were signed to enhance economic cooperation. The G7 representatives have unified their stance against Russia, calling for continued sanctions and a full ceasefire, as well as humanitarian measures such as releasing prisoners of war and civilians, including those illegally deported children. The US Congress is considering a bill that would impose severe sanctions on Russia if it rejects Washington's proposals for resolving the conflict. Ukraine plans to appeal to its partners for additional air defense systems in response to recent missile strikes by Russian forces.

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