“After an online meeting, which included Ukraine’s President Volodymyr Zelenskyy, the leaders of the Group of Seven committed to phase out their dependence on Russian energy.
In a statement issued by the leaders, they said that the actions of the Russian president Vladimir Putin in Ukraine dishonor both Russia and the historical sacrifices of its people.
To isolate Russia across all sectors of its economy, the G7 countries said they would also take measures to “prohibit or otherwise prevent the provision of key services that Russia needs.”
Their commitment to taking action against Russian banks connected to the global economy and systemically critical to the Russian financial system was reiterated.
“We will continue to fight the Russian regime’s propaganda efforts. Respectable companies should not provide revenue to the Russian regime or its affiliates that feed the Russian war machine,” the statement said.
“Our campaign against the financial elites and their families, who squander the resources of the Russian people and support Putin’s war effort, will be sustained and elevated, we added. In keeping with our national authorities, we will impose sanctions on additional individuals.”
The leaders also condemned Russia’s attacks on Ukraine, which started on Feb 24, and have killed 3,309 civilians and injured 3,493 others, according to UN estimates. However, the true death toll is feared to be much higher.
According to the G7’s website, its seven members (UK, US, Canada, Japan, Germany, France, and Italy, plus the EU) share the values of being open, democratic, and outward-looking.