Meeting in the focus of international security
The finance ministers of the Group of Seven (G7) countries held a meeting, The main topic of the meeting was increasing economic pressure on the Russian Federation in connection with its aggression against Ukraine. Representatives of the United States, Canada, Japan, the United Kingdom, Germany, France, and Italy reaffirmed their readiness to continue supporting Ukraine and to seek new tools to limit the Kremlin's financial resources.
New sanctions and control over circumvention of restrictions
One of the key areas of discussion was the introduction of additional sanctions against the Russian military-industrial complex and companies that help to circumvent existing restrictions. The ministers stressed the need to strengthen control over grey trade, in particular through third countries that supply Moscow with dual-use goods.
Focus on the energy sector
Special attention was paid to energy issues. The G7 countries agreed to continue to limit Russia's revenues from oil and gas sales, while maintaining the price ceiling mechanism and strengthening oversight of its compliance. This step is aimed at reducing the financing of the war against Ukraine and stabilising the global energy market.
Support for Ukraine
The participants confirmed long-term financial assistance to Ukraine. They discussed mechanisms for using frozen Russian assets to rebuild Ukraine's economy and infrastructure. According to the ministers, this will send an important signal to Moscow that it will be held accountable for the damage caused.
Conclusion.
The meeting of G7 finance ministers demonstrated the determination of the world's leading economies to continue to put pressure on Russia and prevent it from financing its military actions. New sanctions, control over the circumvention of restrictions, and support for Ukraine remain priorities for the international community.
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