In a joint statement released on May 22, the G7 finance ministers condemned Russia’s ongoing aggression and stated that “any organization supporting Russia in the conflict” will be excluded from contracts related to Ukraine’s post-war reconstruction.
The ministers expressed confidence that the period of greatest uncertainty in global economic policy has passed. They underscored their commitment to working together to stabilize financial markets and pursue shared political goals.
The statement also included a warning — without directly naming China — that “non-market policies and practices” by certain countries could undermine the economic security of others. The document called for “a level playing field for all.”
The G7 finance ministers’ joint declaration was issued following their three-day summit held at the Banff resort in Canada.