G7 to impose new sanctions, step up support for Ukraine in case Russia rejects ceasefire

This was stated in a joint statement by the G7 foreign ministers, following their meeting in Canada, as reported by a Ukrinform correspondent.

“We called for Russia to reciprocate by agreeing to a ceasefire on equal terms and implementing it fully. We discussed imposing further costs on Russia in case such a ceasefire is not agreed, including through further sanctions, caps on oil prices, as well as additional support for Ukraine, and other means. This includes the use of extraordinary revenues stemming from immobilized Russian Sovereign Assets,” the statement reads.

The G7 foreign ministers also emphasized the importance of “confidence-building measures under a ceasefire including the release of prisoners of war and detainees — both military and civilian — and the return of Ukrainian children.”

“We applauded Ukraine’s commitment to an immediate ceasefire, which is an essential step towards a comprehensive, just and lasting peace in line with the Charter of the United Nations,” the statement emphasized.

The G7 stressed the need for effective security guarantees for Ukraine to prevent future aggression.

“We emphasized that any ceasefire must be respected and underscored the need for robust and credible security arrangements to ensure that Ukraine can deter and defend against any renewed acts of aggression,” the statement added.

As reported by Ukrinform, the G7 foreign ministers’ summit is taking place in Quebec, Canada this week.