Foreign ministers of the G7 group of rich democracies have warned Russia of “massive consequences” if it invades Ukraine and urged it to de-escalate its military buildup on its border. Economic sanctions could include restricting access to global finance markets and setting new conditions on funding Russian government debt. Moscow denies Wagner is linked to the Russian state but has said the EU would face retaliation over any sanctions on its citizens. US intelligence assesses that Russia could be planning an offensive on Ukraine involving up to 175,000 troops as early as next year. In 2014 Russia seized the Black Sea peninsula of Crimea from Ukraine, prompting the west to impose sanctions.

Source: The Guardian December 13, 2021 06:13 UTC