G7 – Biden – Von der Leyen – Michel – Photo © European Union 2022
(SCHLOSS ELMAU) – The leaders of the G7 nations at this year’s summit in Bavaria sent out a powerful signal of unity to Russia Tuesday, pledging to strengthen action against its war of aggression against Ukraine.
“We will stand with Ukraine for as long as it takes, providing the needed financial, humanitarian, military, and diplomatic support in its courageous defence of its sovereignty and territorial integrity”, said the G7 leaders’ communiqué.
With financial support from the G7 in 2022 amounting to more than EUR 2.6 billion in humanitarian aid, the G7 countries said they were ready to grant or have pledged and provided EUR 28 billion in budget aid.
“The EU and the G7 share the same goals: bringing Russia’s war machine to a halt, while protecting our economies and those of our partners”, said the EU Council president Charles Michel.
The G7 leaders said they remain “strongly committed to supporting Ukrainian reconstruction through an international reconstruction plan and conference”.
The G7 countries will continue to impose “severe and enduring sanctions” on Russia to help bring an end to this war. “We remain steadfast in our commitment to our unprecedented coordination on sanctions for as long as necessary, acting in unison at every stage, and will reduce Russia’s revenues, including from gold”, said the communiqué.
During the three-day meeting, the G7 leaders discussed a wide range of topics including: Ukraine and cooperating on foreign policy; addressing energy and food security; investing in climate and health; promoting partnerships for infrastructure and investment; shaping the global economy; advancing gender equality; shaping international cooperation.
The German presidency also invited leaders from Argentina, India, Indonesia, Senegal and South Africa to take part in several working sessions during the summit.
On energy and food security, the leaders said Russia’s war on Ukraine is dramatically worsening energy security and access to food globally. They committed to taking immediate action to secure the energy supply and reduce price surges. This, they added, includes exploring additional measures such as price caps.
In the communiqué, the G7 leaders reaffirmed their commitment to phase out their dependency on Russian energy, “without compromising on our climate and environmental goals.
