The G7 has agreed in Elmau to impose new sanctions against Russia, which will target its defense supply chain. Sources from the US delegation in Bavaria have reported that the G7 heads of government want to "further restrict Russia's access to key industrial supplies, services and technologies" abroad, especially those that support the Russian arms sector.
The legal systems of the most industrialized countries will also target those responsible for human rights abuses in Ukraine, such as war crimes, and against those who are involved in "Russia's tactics to steal Ukrainian wheat or who have illegally benefited from the competition.
The consensus is also very advanced to set a price cap on Russian oil imports, to prevent them from ending up financing the Russian war machine in Ukraine.
Moments before the President of Ukraine addresses the highest representatives of the G7 via videoconference, German Chancellor Olaf Scholz has guaranteed that the West will continue to support Ukraine "as long as necessary" and has warned about the danger of division in the world because of the war in Ukraine. "First of all, we must not fall into the trap set by Putin and claim that the world is divided between the global West (...) and everyone else", he said, "democracies exist all over the world and have prospects very similar".
For this reason, he argued, Germany has invited five emerging countries to the G7 summit: India, Indonesia, South Africa, Senegal and Argentina, whose heads of state and government are attending the summit today. Three of them have not taken a clear position on Russia's war against Ukraine. India, South Africa and Senegal abstained from voting to condemn the war at the UN General Assembly in early March, and Scholz has said it is important to talk to these countries.
"The Russian war of aggression has consequences for everyone: many countries fear a hunger crisis, many fear a massive increase in energy prices", he explained, "we have to stand together in solidarity with Ukraine". On the other hand, Scholz has also highlighted the importance of the Group of 20 (G20), of which Russia is also a part. "One thing is clear: the G20 must continue to play a role", commented the Social Democratic politician, there is "a common conviction that we do not want to torpedo the G20".
He was referring to the discussion about whether Russia should be excluded from the next G20 meeting, as it has been since 2015 from the G7, which until then was the G8. Both Scholz and Ursula von der Leyen, president of the European Commission, are for now tolerant of the idea of Putin attending that meeting, while other members of the G7 are resisting. In view of the impending hunger crisis, especially in East Africa, the G7 countries are also trying to increase grain exports. "The most affected countries are present day and night in the ongoing negotiations," said Scholz, who expect concrete financial commitments from the G7 countries this Monday.