Just as the end of my term as governor of the Bank of Japan was coming into view, Russia's invasion of Ukraine began on Feb. 24, 2022.
Russia had annexed the Crimean Peninsula before the invasion, and pro-Russian forces occupied eastern Ukraine. It also broke two cease-fire agreements brokered by Germany and France. In response to the aggression, which violated international law, the Group of Seven (G7) major economies united very quickly, imposing economic and financial sanctions against Russia and extending support to Ukraine.
