Jim Chalmers said Russia's war on Ukraine not only had a “terrible human toll” but also prolonged economic uncertainty sparked by COVID-19, as he warned the conflict had undermined global energy and food security.
Speaking at the G20 Finance Ministers meeting in Bali on Friday, Mr Chalmers said Moscow’s actions not only had a “terrible human toll”, but also prolonged economic uncertainty sparked by COVID-19."It is Russia's invasion that has undermined energy and food security, and not the sanctions, and so Russia must take full responsibility for this.
The Kremlin has cut off gas pipelines to western Europe and Japan leading to a dramatic increase in energy costs around the world.
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