10 March Joint Meeting of Finance Ministers

Finance

Finance Minister Hon Grant Robertson yesterday hosted a call with his counterparts from Australia and the United States. Canada and the United Kingdom were represented by deputies.  

Participants discussed global and domestic economic impacts associated with Russia’s invasion of Ukraine and our partners’ collective responses.  

“We shared perspectives on the global and domestic economic impacts associated with Russia’s invasion of Ukraine. Russia’s attack is adding further uncertainty to the global economic outlook just as the world was starting on the path of recovery from the COVID-19 pandemic.”

“As a group, we are sending a clear and unequivocal message that we condemn in the strongest possible terms Russia’s unprovoked, unjustified and illegal invasion of Ukraine. Russia’s actions are destroying the lives of Ukrainians and the democratic and economic progress they have fought to secure. Russia’s actions, aided by Belarus, also represent an assault on the fundamental norms and laws that underpin the international order.  We stand firm in supporting our Ukrainian partners and holding Russia, and Belarus, accountable for their unacceptable actions.”

Participants provided an overview of the economic measures they have taken in response to the conflict, including the sanctions and other actions they have adopted to date, and the associated economic impacts. The group also discussed the important impact of measures taken by other governments, private businesses and non-governmental organisations.

“The meeting reinforced the value of like-minded partners sharing experiences of, and responses to, global economic challenges, including maintaining close coordination to continue imposing financial pressure on Russia for its aggression against Ukraine. We also want to acknowledge the decisions of other partners and those businesses and organisations that have taken measures that express their own condemnation of Russia’s actions.”