“The war in Ukraine is a global conflict and not only affecting Ukraine but all countries around the world”: Bruno Le Maire, French Minister of Economy, Finance, and Digital and Industrial Sovereignty

France is firm and uses this G20 for Russia’s illegal brutal attack against Ukraine and we will oppose any step back from the statements of the leaders on this question of the war in Ukraine. We are happy to see India communicate and be in the driving seat. India is in the best position to have this strong communique that we are waiting for. The war in Ukraine is a global conflict and not only affecting Ukraine but all countries around the world.” Stated by Bruno Le Maire, French Minister of Economy, Finance, and Digital and Industrial Sovereignty while interacting with media at the first Finance Ministers and Central Governors meeting under G20 India’s presidency in Bengaluru today.

He further said that all sanctions against Russia are strong, effective, and efficient. They are reducing the revenues of Russia. They are freezing 58 billion dollars of Russian assets and disorganizing Russian industries. The Minister stated, “We have firmed for the financial support to Ukraine and a new IMF program we have decided for 15.5 billion dollars. Through the G20, inflation should go down by mid-2023 in developed countries. France is a good example of that situation where we see positive growth by 2023 and the lowest level of unemployment for 40 years sense to an economic strategy put in place by 2070.” He said that the developing countries have been deeply suffering from the pandemic, inflation, from the consequences of the Russia-Ukraine war, and climate change. France already provided 4 billion dollars to the IMF for loans. The second area of concern is debt and it is time to implement a common framework. A key priority of France is international taxation. The implementation of minimum taxation and the completion of the negotiation of digital taxation should be decided without any delay.