The G7 countries have committed themselves to phase out or ban the import of Russian oil, according to a statement posted on the White House website on Sunday.
“This will hit the main artery of Putin’s economy hard and deprive him of the income he needs to finance the war. The G7 also committed to working together to secure stable global energy supplies while stepping up our efforts to reduce dependence on fossil fuels.
The G-7 countries, together with the international community, are promising and are already providing Ukraine with significant additional support in the amount of more than $24 billion for 2022 and beyond, both financially and materially, their finance ministers and central bankers said in a statement. results of the meeting in Washington.
“Against the backdrop of the ongoing brutal Russian aggression, the accompanying suffering of the Ukrainian population, and the ongoing destruction of the country itself, we are ready to do more as needed,” the document, published on Thursday, said.
According to him, economic support for Ukraine from 2014 to 2021 exceeds $60 billion.
The statement also notes the importance of continuing close coordination of support for Ukraine and its neighboring countries.
“We call on all countries and international organizations to join our efforts to ensure adequate support for Ukraine in meeting its urgent needs and rebuilding its future,” the document emphasizes.
G-7 representatives welcomed the opening of the International Monetary Fund (IMF) Multi-Donor Account for Ukraine and the announcement of the European Union on the establishment of the Ukraine Solidarity Trust Fund, and support the World Bank Group Ukraine Support Package and the European Bank for Reconstruction and Development Sustainability Package .
The day before, IMF Managing Director Kristalina Georgieva said that Ukraine had applied to the Fund for support in covering the financial gap to keep the economy functioning in the amount of $5 billion a month for the next three months, and the IMF would assist in raising these funds.
According to the National Bank, the total international financial support for Ukraine since the beginning of the war amounted to $3.8 billion.
Economic Adviser to the President of Ukraine Oleg Ustenko, in an interview with The New Yorker last week, estimated the Ukrainian budget deficit in the coming months at about $8 billion a month and announced the desirability of partner assistance of $50 billion for six months. At the same time, Finance Minister Sergei Marchenko earlier predicted a state budget deficit for April-May of $5-7 billion a month compared to $2.7 billion in March.
