UK: Consequences of US Not Raising Debt Ceiling Will Be "Severe"

British Finance Minister Jeremy Hunt warned on Saturday that the failure of the United States to reach an agreement to raise its debt ceiling could have "very severe" consequences if its GDP goes off track. Hunt also stated that the impact of sanctions imposed on Russia due to its "invasion" of Ukraine has not been as effective as military support for Kyiv, and that the G7 aims to "remove risks" from relations with China, rather than decoupling from it. Hunt made these comments to reporters before meeting with U.S. Treasury Secretary Janet Yellen on the sidelines of a G7 finance ministers meeting in Japan.