Leaders of the world’s seven largest economies held talks with Ukrainian President Volodymyr Zelensky via video link and pledged to help rebuild Ukraine by curbing Russian oil prices, raising tariffs on Russian goods. and expressed intention to impose new restrictions. The US is also about to announce the supply of surface-to-air missile systems to Ukraine to help in the war against Russia.
With this, G-7 leaders can announce some new sanctions against Russia. At the same time, Zelensky has expressed concern that Western countries are tired of the long lasting war. Negotiations on controlling Russian oil prices and sanctions targeting the Russian economy are in the final stages of the three-day G7 summit.
The G-7 finance ministers are deliberating on these issues. The US has also announced new tariffs on 570 types of products imported from Russia. Along with this, other sanctions are also going to be imposed to target Russia’s defense supplies. US President Joe Biden may announce the purchase of an anti-aircraft system ‘NASAMS’ developed in Norway. The US uses the ‘NASMS’ system to protect sensitive installations including the White House.
Biden will also announce a commitment to provide $7.5 billion to the Ukrainian government for its expenses. This will be under the $ 40 billion arms and economic package to be given to Ukraine. Biden signed a law in this regard last month. G-7 leaders began Monday’s session of the three-day summit with a focus on Ukraine. Later, he will be joined by leaders from five emerging economies – India, Indonesia, South Africa, Senegal and Argentina – in discussions on climate change, energy and other issues.
German Chancellor Olaf Scholz, host of the summit, said the policies of the G-7 countries regarding Ukraine are largely the same and they need to be strong and careful. Biden said in the past days that we have to be together, because Russian President Vladimir Putin had hoped from the beginning that somehow NATO and G-7 would split but it did not happen and we will not let it happen . PLC
