G7 finance ministers vowed to crank up sanctions on Russia if it does not make progress towards peace with Ukraine, in a show of support for Kyiv after the US signalled it may pull back from trying to resolve the conflict.
In a communiqué released after a three-day summit in the Canadian town of Banff, G7 finance ministers and central bank governors pledged their “unwavering support” for Ukraine and vowed to explore all options “to maximise pressure” on Moscow if a ceasefire is not reached quickly.
However, in the wake of US President Donald Trump’s aggressive tariffs, the summit yielded little progress on ways to end his trade war.
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