G7 countries pledge new sanctions on Russian oil and gas, and increased support for Ukraine

The G7 leaders, meeting in the French town of Evian-les-Bains, released a joint statement early on June 17, committing to new restrictions on Russian oil and gas, as well as expanding support for Ukraine.

According to the document, the leaders will tighten sanctions, including measures against the oil and gas sector, to increase pressure on Russia's military economy. The timing is deemed appropriate following Donald Trump's agreement with Iran to open the Strait of Hormuz, through which significant volumes of oil and gas pass.

Support for Ukraine

The G7 leaders reaffirmed their united and unwavering support for Ukraine's freedom, sovereignty, and territorial integrity. They expressed solidarity with the Ukrainian people suffering from attacks on critical infrastructure and cultural heritage. The statement highlighted Ukraine's resilience and recent successes on the battlefield, noting a new dynamic at the front.

To support and strengthen this dynamic, the leaders agreed to accelerate deliveries of air defense systems, interceptors, long-range and other weapons to Ukraine. They also promised to consider granting Ukraine licenses to increase domestic military production.

In addition to military aid, the G7 pledged continued support for Ukraine's energy sector to help the country through the coming winter.

The group comprises Germany, the United States, the United Kingdom, France, Italy, Japan, and Canada.