G7 agrees to tighten economic pressure on Russia

All member states of the Group of Seven have agreed to further increase economic pressure on Russia to force it to end its war against Ukraine.

This is stated in a joint declaration released by the Government of Canada following the G7 foreign ministers' meeting, CE Report quotes Ukrinform.

"We are increasing the economic costs to Russia, and exploring measures against countries and entities that are helping finance Russia's war efforts," the document states.

The members of the G7 also emphasized the urgent need for a ceasefire.

"We agreed that the current line of contact should be the starting point of negotiations. We remain committed to the principle that international borders must not be changed by force," the declaration stated.

In addition, the G7 condemned the provision of military assistance to Russia by Iran and North Korea, as well as "the provision of weapons and dual-use components by China."

"We acknowledged the ongoing discussions on a wide range of financing options, including further leveraging immobilised Russian Sovereign Assets in our jurisdictions in a coordinated way to support Ukraine," the G7 foreign ministers said.

As reported, the G7 foreign ministers' meeting is taking place today in Canada, with Ukraine's Foreign Minister Andrii Sybiha participating.