<p>World powers on Monday warned Moscow that they stand ready to impose sanctions that would have a huge and immediate impact on Russia's economy, should it pursue any further military aggression against Ukraine.</p>.<p>"Our immediate priority is to support efforts to de-escalate the situation," finance ministers of the G7 group of most developed nations said in a statement.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/international/world-news-politics/russia-amid-ongoing-drills-near-ukraine-says-ties-with-us-are-on-the-floor-1081354.html">Russia, amid ongoing drills near Ukraine, says ties with US are 'on the floor'</a></strong></p>.<p>However, if Moscow ramped up military action, the G7 warned that they "are prepared to collectively impose economic and financial sanctions which will have massive and immediate consequences on the Russian economy."</p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>World powers on Monday warned Moscow that they stand ready to impose sanctions that would have a huge and immediate impact on Russia's economy, should it pursue any further military aggression against Ukraine.</p>.<p>"Our immediate priority is to support efforts to de-escalate the situation," finance ministers of the G7 group of most developed nations said in a statement.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/international/world-news-politics/russia-amid-ongoing-drills-near-ukraine-says-ties-with-us-are-on-the-floor-1081354.html">Russia, amid ongoing drills near Ukraine, says ties with US are 'on the floor'</a></strong></p>.<p>However, if Moscow ramped up military action, the G7 warned that they "are prepared to collectively impose economic and financial sanctions which will have massive and immediate consequences on the Russian economy."</p>.<p><strong>Watch the latest DH Videos here:</strong></p>