The Leaders of the Group of Seven (G7: the United States, Canada, the United Kingdom, Germany, France, Italy, Japan) have pledged to introduce an oil embargo against Russia, continue military assistance to Ukraine and help in its restoration.
This is stated in a joint statement by the G7 on the White House website following a meeting on May 8 with the participation of President Volodymyr Zelenskyy, Ukrainian News Agency reports.
“Together with the international community, we, the G7, have provided and pledged additional support since the start of the war exceeding USD 24 billion for 2022 and beyond, in both financial and material means. In the coming weeks, we will step up our collective short-term financial support to help Ukraine close financing gaps and deliver basic services to its people, while also developing options – working with the Ukrainian authorities and international financial institutions – to support long-term recovery and reconstruction,” the statement said.
It is noted that the G7 assured Zelenskyy of the continued readiness to undertake further commitments to help Ukraine secure its free and democratic future.
“To this end, we will pursue our ongoing military and defence assistance to the Ukrainian Armed Forces, continue supporting Ukraine in defending its networks against cyber incidents, and expand our cooperation, including on information security,” the statement said.
The G-7 countries collectively commit to taking the following measures, consistent with their respective legal authorities and processes:
- phase out their dependency on Russian energy, including by phasing out or banning the import of Russian oil;
- prohibit or otherwise prevent the provision of key services on which Russia depends;
- continue to take action against Russian banks connected to the global economy and systemically critical to the Russian financial system.
- continue their efforts to fight off the Russian regime’s attempts to spread its propaganda;
- continue and elevate their campaign against the financial elites and family members, who support President Putin in his war effort and squander the resources of the Russian people.
“The G7 and Ukraine stand united in this difficult time and in their quest to ensure Ukraine’s democratic, prosperous future. We remain united in our resolve that President Putin must not win his war against Ukraine. We owe it to the memory of all those who fought for freedom in the Second World War, to continue fighting for it today, for the people of Ukraine, Europe and the global community,” the G7 said.
As Ukrainian News Agency earlier reported, the head of the President's Office Andrii Yermak announced a "powerful" statement following the meeting of the G7 countries.
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