**EU Leaders Call for Stronger Sanctions on Russia at G7 Summit**
As the world grapples with the ongoing war in Ukraine, European leaders are urging their G7 counterparts to impose harsher sanctions on Moscow. This push comes as the Group of Seven (G7) nations gather in Canada for their annual summit.
**Ukraine Hopes for Economic Support and Unified Pressure Against Russia**
The conflict between Israel and Iran may dominate this year’s conference, but Ukraine is hoping to win economic support and unified pressure against Russia from the G7 leaders. European Commission President Ursula von der Leyen and European Council President Antonio Costa are leading the charge, calling for tougher sanctions on Moscow.
**Sanctions Are Critical**
Von der Leyen emphasized that sanctions have been an effective tool in curbing Russia’s aggression since February 2022. She noted that combined G7 and EU sanctions have decreased Russian oil and gas revenues by nearly 80% during this period. “The sanctions are working, and we will do more,” she said.
**Adapting Economic Restrictions**
Von der Leyen urged the G7 to adapt economic restrictions proposed in the EU’s 18th sanctions package, which targets Russia’s energy and banking sectors. The new measures propose a further reduction in the oil price cap, bringing it down from $60 to $45 per barrel.
**EU Leaders Commit to Increasing Sanctions**
Costa echoed von der Leyen’s call for sanctions, emphasizing that Europe is committed to “increasing additional sanctions to cripple Russia’s ability to wage war and pressing for an unconditional ceasefire.”
**US Resistance Expected**
However, the US may resist this push for stronger sanctions. The Trump administration has taken a different posture towards Ukraine and Russia since January, and the US has not imposed any new sanctions against Russia despite Moscow’s blatant obstruction of peace efforts.
**Price Cap Debate Heats Up**
The debate over lowering the G7 oil price cap has become more urgent as oil prices surge following Israel’s recent strikes against Iran. Despite US resistance, the EU and UK are prepared to move forward with the proposal, even without Washington’s endorsement.
**President Zelensky Wants Stronger Sanctions**
Ukrainian President Volodymyr Zelensky has said that the EU sanctions and proposed price cap drop don’t go far enough. He called for further slashing the oil price cap to $30 per barrel, saying that real peace will come with a ceiling of $30.
**Meeting Between Zelensky and Trump**
The meeting between Zelensky and Trump on the sidelines of the G7 summit on June 17 is expected to be an interesting one. This will mark their third in-person encounter since Trump took office.
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