TOKYO, May 13 – The G7 countries have affirmed their determination to counter any attempts by Russia to evade sanctions related to the Ukraine situation, as well as their commitment to supporting Ukraine as long as necessary. This joint statement was issued following a meeting of finance ministers and central bank governors from the G7 member states in Niigata, Japan.
The statement highlights the G7’s resolve to prevent and undermine any actions aimed at circumventing their sanction measures. It emphasizes the importance of enhancing coordination in monitoring cross-border transactions between Russia and other countries, taking additional steps targeting the Russian financial sector when deemed necessary, and closely evaluating the effectiveness of price caps on Russian crude oil and petroleum products. The G7 members pledge to take appropriate enforcement actions as required.
The G7 nations reiterate their unwavering support for Ukraine, stating their commitment for as long as it takes. They urge other countries to join their efforts in implementing measures against Russia and strengthening their enforcement capabilities. Additionally, the G7 confirms that Russia’s sovereign assets in their jurisdictions will remain frozen until the Ukrainian conflict is resolved.
As Japan assumes the G7 presidency in 2023, several ministerial meetings have already taken place, including those involving foreign affairs ministers and ministers of digitalization and technology.
