**G7 Stands Firm Against Russia’s Aggression**
The G7 Finance Ministers and Central Bank Governors meeting in Banff, Canada, concluded with a strong statement of opposition to Russia’s ongoing war against Ukraine. The group, which includes the US, UK, Canada, France, Germany, Italy, and Japan, reaffirmed their support for Ukraine’s sovereignty and territorial integrity.
**No Access to Frozen Assets Until Compensation is Paid**
The G7 made it clear that Russia will not regain access to its frozen sovereign assets until it ends its war against Ukraine and pays full compensation for the damages caused. This move is a significant step in putting economic pressure on Russia, which has been accused of aggression and human rights abuses.
**Pressure on Russia to End the War**
The meeting also highlighted the ongoing efforts to reach a ceasefire between Kyiv and Moscow. However, with Russia continuing its attacks on civilian targets and reiterating its demands for Ukraine’s capitulation, it remains unclear whether a peaceful resolution can be achieved. US President Trump’s push for peace talks has so far failed to deliver any progress.
**Sanctions May Be Increased**
The G7 warned that if a ceasefire is not agreed upon, they will explore all possible options, including increasing economic pressure through additional sanctions. This move could further isolate Russia and make it more difficult for the country to access international finance. The group emphasized that their support for Ukraine remains unwavering, and they will continue to back the country in defending itself and rebuilding after the extensive destruction caused by the war.
**Implications of US Action**
Some observers have raised concerns that the Trump administration’s approach to the conflict may eventually lead to the lifting of sanctions on Russia. This move would be seen as a major concession to Moscow, and could undermine the G7’s efforts to put pressure on Russia to end the war.
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