RIO DE JANEIRO: Finance ministers and central bank governors from the Group of Seven advanced democracies confirmed Wednesday that they will continue to work together to aid Ukraine in its fight against Russia’s invasion.

At their meeting in Rio de Janeiro, the G7 officials discussed aid to Ukraine using frozen Russian assets.

At their June summit in Italy, G7 leaders agreed to provide 50 billion dollars in loans to Ukraine using the frozen assets. Talks are underway to launch the initiative by the end of this year.

“The G7 will work together and advance discussions to realize the agreement,” Japanese Finance Minister Shunichi Suzuki told reporters after Wednesday’s meeting.

The G7 finance ministers and central bank governors also discussed the impact of massive subsidies and other nonmarket policies and the economic impact of artificial intelligence.

There were no talks on foreign exchange rates, according to a person close to the meeting.

JIJI Press