G-7 Leaders May Strengthen Sanctions On Russia Until Implementation Of Peace Plan
As political turmoil heightens in Eastern Ukraine, leaders of the Group of Seven, or G-7 came to an agreement on Monday to deal with Russia with more stringent economic sanctions, according to its declaration. Leaders of G-7, representing seven world powers, have been pressuring Russia to initiate a solution.
During the annual G-7 Summit held in Garmisch-Partenkirchen, Germany on June 8, in which Russia was singled out for the second time, the leaders reiterated support for Ukraine and maintained the current sanctions against Russia until the latter will thoroughly implement a peace initiative, the Minsk agreement, including the Package of Measures already agreed in February in Minsk in Belarus.
The leaders also renewed technical and financial support to Ukraine as the latter proceeds with its transformation. In particular, the seven world powers committed to have a collaborative work with international financial institutions in achieving their goal.
In its Declaration released on June 8, leaders of G-7 nations reaffirmed its policy of non-recognition of Crimean peninsula, which according to the group is illegally annexed by the Russian Federation. The Declaration also echoed an earlier stand on seeking a diplomatic solution specifically, in the framework of Trilateral Contact Group and Normandy Format.
“We are concerned by the recent increase in fighting along the line of contact; we renew our call to all sides to fully respect and implement the ceasefire and withdraw heavy weapons,” the Declaration reads.
It further says: “We recall that the duration of sanctions should be clearly linked to Russia’s complete implementation of the Minsk agreements and respect for Ukraine’s sovereignty.”
But while leaders of the Group Seven nations are ready to roll back the sanctions on Russia after complete compliance with the implementation, they are nonetheless “ready to take further restrictive measures in order to increase cost on Russia should its actions so require.”
Group Seven urges Russia to put a halt on its trans-border backing of separatist movements in eastern Ukraine and instead, take advantage of its formidable influence over the militants to deliver in full what is being asked for in Minsk agreement. The Declaration also further asked the G7 Ambassadors designated in Kiev to create a Ukraine support group which will be tasked to promote Ukraine’s economic reform process.
Meanwhile, United States President Barack Obama described Russia’s actions to be hurting Russia and the Russians.
To read the entire Declaration, click here.