G7 Unites on Global Economic Imbalances and Sanctions on Russia

Finance leaders of the Group of Seven democracies agreed on addressing global economic imbalances and potential sanctions on Russia. They emphasized coordinated actions against non-market practices and endorsed existing sanctions on Russia due to its war on Ukraine. U.S. tariffs and China's economic practices were prominent discussion points.

The Group of Seven (G7) finance ministers and central bank governors reached a consensus on tackling significant global economic concerns, including potential sanctions on Russia, during a meeting in the Canadian Rockies.

The communique issued after the talks reflected a shared stance on countering "non-market policies and practices," though it did not specifically name China. The document emphasized the significance of a unified approach to maintain international economic security.

While the officials discussed the geopolitical tensions arising from Russia's war on Ukraine, they also deliberated on details like the U.S. tariffs impacting global trade dynamics.

(With inputs from agencies.)