The Group of Seven (G7) nations have signaled a clear warning to Russia: agree to a ceasefire with Ukraine or face intensified sanctions. This message comes from the joint statement issued during the G7 Finance Ministers and Central Bank Governors’ meeting currently taking place in Canada. The statement strongly condemns what it calls Russia’s “ongoing brutal war” against Ukraine.
“If no agreement for a ceasefire is reached, we will continue to review all possible options, including those to maximize pressure, such as further tightening of sanctions,” the declaration reads.
The communiqué also calls for a thorough analysis of global market concentration and the resilience of international supply chains.
“We agree on the importance of a level playing field and of taking a broadly coordinated approach to address the harm caused by those who do not adhere to the same rules and lack transparency,” the statement concludes.
