The G7 finance ministers have reinforced their collective stance against Russia's ongoing conflict in Ukraine. Meeting in Canada, they condemned the continued aggression and warned of intensified sanctions if Moscow does not agree to a ceasefire. The group emphasized unity and pledged to support Ukraine's economy and reconstruction efforts.
In addition to addressing the situation in Ukraine, the G7 focused on global economic imbalances, which they attribute partly to non-market policies. Although China was not named directly, the ministers highlighted concerns about trade practices affecting international economic security.
The G7's stance includes readiness to impose further sanctions on Russia, potentially lowering the price cap on Russian oil. This approach marks a strategic effort to maintain pressure on Moscow while advocating for economic equality and stability worldwide.
Diplomatic talks between Russia and Ukraine have intensified, yet new peace negotiations remain unconfirmed. Meanwhile, Russia is reportedly preparing a summer offensive in the Donbas region. As tensions persist, the G7's unified response aims to counteract these developments and promote a resolution to the conflict.
