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The G7 promises new sanctions against Russia and support for Ukraine “as long as it takes”

2022-06-27T12:56:07.842Z


The democratic powers agree to keep up the pressure on Moscow, while Zelensky asks for help to end the war before winter


G-7 leaders, meeting in Germany for their annual summit, tried Monday to show an unwavering resolve in support of Ukraine as the war launched by Russia rages on and the economic fallout hits much of the world.

The leaders of the great democratic industrial powers met with the President of Ukraine, Volodymyr Zelensky, by videoconference.

He asked for help to end the war before the end of the year, and especially advanced anti-aircraft defense systems.

They responded with a wide range of promises, including to support kyiv "for as long as necessary" and to increase the pressure on Russia by reducing its income, for example from the sale of gold, and with new restrictions. that hit strategic industrial sectors.

The G-7 communiqué points to several lines that must be specified.

As far as support for Ukraine is concerned, readiness is declared to support the flow of financial, military, humanitarian and intelligence aid.

US sources quoted by the Reuters agency indicate that the White House is about to announce the purchase of modern medium and long-range ground-air defense systems for Ukraine.

Zelensky, according to Elysée sources, asked for help on all these fronts with the aim of pushing the Russians back to pre-invasion positions and with the fear that the arrival of winter would lead to a worrying freeze or entrenchment of the conflict.

Significantly, it is specified that it is up to Ukraine to decide on peace negotiations, when in the West —in view of the economic malaise caused by the war— the voices calling for a negotiated solution are growing.

French sources maintain that Zelensky conveyed to the G-7 leaders that this is not the time for that yet.

The G-7, meeting in the German town of Elmau, also signaled their commitment to a major reconstruction plan designed and implemented by Ukraine.

The statement outlines the path of new steps to try to suffocate the Russian economy.

Gold is explicitly mentioned - the prohibition of its importation from Russia - as one of the ways to reduce the income of the Kremlin.

The intention is indicated to raise tariffs on Russian products and then use those rates to support Ukraine and to deepen sanctions that affect Russian productive capacity in strategic sectors.

In the sanctions section, the main issue points to the setting of limits on crude oil prices.

This is a highly complex issue and it remains to be seen what level of agreement and concreteness the G-7 leaders will be able to express.

French sources note that the mechanism is far from clear and much more work is likely to be needed to define it.

In a comment on Telegram, Zelenski was in favor of proceeding in this regard.

The French presidency took advantage of the summit to call on the oil producing countries to increase production and take steps to reincorporate Iran and Venezuela into the market.

More information

The Kremlin suspends foreign payments for the first time since the Russian Revolution

Precisely, Iran is another of the issues that fly over the summit, after the recent visit of the EU's High Representative for Foreign Affairs, Josep Borrell, to Tehran, which seemed to reopen the prospect of dialogue around the nuclear pact.

In the afternoon, the leaders of the G-7 are scheduled to meet with representatives of several countries outside the group, including India, Indonesia and Argentina, in a symbol of a turbulent world table in which the great powers try to strengthen relations with other actors.

Mario Draghi, President of the Italian Government, pointed out that "if Ukraine loses, all democracies lose and it will be more difficult to maintain that the democratic model is the most effective."

Italy is pushing for price limit mechanisms to be designed also in the gas sector.

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Source: elparis

All news articles on 2022-06-27

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