Key takeaways from G7 summit: Ukraine in the focus

Key takeaways from G7 summit: Ukraine in the focus

The leaders of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. (Group of Seven) plus the invited leaders of five developing nations of Argentina, India, Indonesia, Senegal, and South Africa met in Elmau, Germany, from June 26-28, 2022. President of Ukraine Volodymyr Zelensky participated in the summit online.

Ukraine was the focus of a good deal of discussions at the summit. In their Communique, the leaders stated that G7 stands united in a time when the world is threatened by division and shocks and also emphasized their resolve to defend universal human rights and democratic values, the rules-based multilateral order, and the resilience of our democratic societies. Most of the key challenges mentioned in the Communique are directly or indirectly related to Ukraine and Russia’s war against it:

  • The condemnation of Russia’s illegal and unjustifiable war of aggression against Ukraine was reemphasized. G7 will stand with Ukraine for as long as it takes, providing the needed financial, humanitarian, military, and diplomatic support in its courageous defense of its sovereignty and territorial integrity. G7 is ready to reach arrangements together with interested countries and institutions and Ukraine on sustained security commitments to help Ukraine defend itself and to secure its free and democratic future.
  • The Group’s financial support in 2022 amounts to more than $2.8 billion in humanitarian aid, and it is ready to grant, or has pledged and provided $29.5 billion in budget aid. G7 is strongly committed to supporting Ukrainian reconstruction through an international reconstruction conference and plan, drawn up and implemented by Ukraine in close coordination with international partners.
  • G7 will continue to impose severe and enduring costs on Russia to help bring an end to this war. Beyond its direct implications, Russia’s aggression is impeding the global recovery and dramatically worsening energy security and access to food globally. To this end, G7 remains steadfast in its commitment to its unprecedented coordination on sanctions for as long as necessary, acting in unison at every stage, and will reduce Russia’s revenues, including from gold.
  • G7 will take immediate action to secure energy supply and reduce price surges driven by extraordinary market conditions, including by exploring additional measures such as price caps. The Group reaffirms its commitment to phase out its dependency on Russian energy, without compromising its climate and environmental goals.
  • To protect people from hunger and malnutrition, and in response to Russia’s weaponization of grain, the Group will increase global food and nutrition security through the Global Alliance on Food Security. G7 will provide an additional $4.5 billion to this end, stand by its commitments to keep its food and agricultural markets open, and step up efforts to help Ukraine produce and export.

Source: European Council

Donate Subscribe to our news