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CNN: G7 foreign ministers to impose economic costs on Russia for annexation of Ukrainian oblasts

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The G7 foreign ministers of the U.S., Canada, France, Germany, Italy, the U.K., Japan, and the EU High Representative said they will “never recognize these purported annexations, nor the sham ‘referenda’ conducted at gunpoint,” reports CNN. The joint statement said new economic costs will be imposed on those who provide “political or economic support” to Russia’s recent actions.

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Washington and Kyiv will invest $75 million each to kickstart the Ukraine reconstruction investment fund that gives the U.S. special access to mineral sites and other projects in Ukraine, the Economy Minister Oleksii Sobolev told journalists on Sept. 17.

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