The measures were aimed, for example, against military production and supply chains, the White House announced on Monday at the G-7 summit in Bavaria. In coordination with the G-7 countries, the USA would impose sanctions on hundreds of other people and institutions and levy punitive tariffs on Russian products.
The G-7 leaders have agreed on “targeted sanctions” to further limit Russia’s access to Western technology, the White House said. Russia’s access to essential materials, services and technologies should be further restricted.
Extension of sanctions in the armaments sector
US sanctions against the Russian armaments sector would be expanded. This is intended to limit Russia’s ability to “replace military equipment it has already lost in its brutal war against Ukraine.”
It was also agreed that proceeds from increased tariffs on Russian exports would be passed on to Ukraine as financial aid. New tariffs on Russian goods should be used “to help Ukraine and ensure Russia pays the price for its war,” the US government said. It was said that the USA would levy punitive tariffs on more than 570 Russian product groups with a volume of around 2.3 billion dollars.
Andreas Pfeifer (ORF) on the G-7 summit
Andreas Pfeifer (ORF) reports from Elmau in Bavaria and talks about the current G-7 summit. At the summit on Monday, heads of state and government from the United States to Germany will talk and negotiate with Ukrainian President Volodymyr Zelenskyy about aid – both military and economic.
Consultations on price caps
According to the information, there is also progress on the US plan to impose a global price cap on the purchase of Russian oil. The G-7 group is in the “final deliberations” on this issue. The US proposal envisages forcing Russia to sell oil to large buyers such as India at a significantly lower price in the future.
The White House also announced that the G-7 would adopt sanctions against those responsible for human rights abuses such as war crimes. The US State Department will impose travel bans on around 500 government officials “for threatening or violating Ukraine’s sovereignty, territorial integrity or political independence or for suppressing dissent in Russia.”
Aid package in the billions
According to the US government, the G-7 will also commit to helping Ukraine cover its short-term budget deficits. The United States would pledge $7.5 billion from the aid package approved by the US Congress.
G-7 leaders pledged to provide financial, humanitarian, military and diplomatic support to Ukraine “for as long as it is needed”. This commitment also includes the provision of modern weapon systems.
Selenskyj wants the war to end this year
The heads of state and government of the G-7 group began their deliberations on the second day of the summit on Monday. The first item on the program was an exchange on the war in Ukraine. For this purpose, Selenskyj was connected to the summit via video line.
Zelenskyi said in a video message on Sunday evening that the G-7 had sufficient opportunities to “stop Russian aggression”. In particular, he called on the G-7 countries to deliver more weapons to his country more quickly. In Monday’s talks, he called on the G-7 countries to “do everything” to end the war with Russia later this year.
Efforts to export grain from Ukraine
In view of the impending hunger crisis, especially in East Africa, the G-7 countries are trying to enable grain exports from Ukraine. “Negotiations are currently going on day and night,” said Germany’s Chancellor Olaf Scholz on ZDF’s “Morgenmagazin”. The topic is causing the leading democratic economic powers great concern and they want to help. Money should also be used to ensure that hunger crises are avoided. Concrete financial commitments from the G-7 countries are expected on Monday.
At lunchtime we continue at Schloss Elmau with consultations on climate, energy and health policy. The heads of state and government from the five guest countries Argentina, India, Indonesia, Senegal and South Africa are taking part. Another working session on food safety and gender equality will follow in the afternoon, to which UN Secretary-General Antonio Guterres has also been invited.
Mini demo at Schloss Elmau
The summit of the seven most important democratic industrialized countries began on Sunday afternoon and will last until Tuesday. In addition to Germany, the group of the big seven includes the USA, Canada, Great Britain, France, Italy and Japan.
A small demonstration with around 50 participants took place on the edge of the summit, about half a kilometer from Schloss Elmau. However, the demonstrations and protests by globalization opponents and environmentalists hardly play a role this year. Their number is significantly lower than expected and faces a huge security presence.