The G7 has warned that it will tighten sanctions against Russia if Moscow does not agree to a ceasefire in Ukraine, Report informs.
"We welcome ongoing efforts to achieve a ceasefire. If such a ceasefire is not agreed, we will continue to explore all possible options, including options to maximize pressure such as further ramping up sanctions," the Ukraine-related part of the G7 finance ministers' and central bank governors' communique, adopted after their meeting in Canada, reads. "We reaffirm that, consistent with our respective legal systems, Russia’s sovereign assets in our jurisdictions will remain immobilized until Russia ends its aggression and pays for the damage it has caused to Ukraine."
"We condemn Russia’s continued brutal war against Ukraine and commend the immense resilience from the Ukrainian people and economy. Ukraine has suffered significant destruction. The G7 remains committed to unwavering support for Ukraine in defending its territorial integrity and right to exist, and its freedom, sovereignty and independence toward a just and durable peace," reads the statement.
