Japan Government: G7 countries agree on unity in Ukraine support

Foreign ministers from the Group of Seven (G7) advanced economies confirmed in a meeting in New York on Wednesday their cooperation in extending support for Ukraine and responding to food and energy security, the Japanese Foreign Ministry said, per Reuters.

The news also mentioned, “The development came after President Vladimir Putin announced Russia's first wartime mobilization since World War Two and moves to annex swaths of Ukrainian territory, and threatened to use nuclear weapons to defend Russia.”

Key quotes

Japan Foreign Minister Yoshimasa Hayashi told G7 meeting Tokyo plans to implement measures to ban export to Russia of chemical weapon-related product.

Japan Foreign Minister Hayashi told G7 meeting Tokyo plans to expand the list of Russian military-related organizations to which exports are banned.

Market reaction

Risk appetite weakens on the news, which in turn weighed on the S&P 500 Futures while favoring the yields and the US dollar.

Also read: US Dollar Index renews 20-year high around 111.50 on firmer yields, hawkish Fed