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G7 Leaders Say Ready to Impose New Sanctions on Russia

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The Group of Seven (G7) is ready to introduce new sanctions against Russia over Moscow’s stance on the crisis in Ukraine, the joint statement said Wednesday.

WASHINGTON, July 30 (RIA Novosti) – The Group of Seven (G7) is ready to introduce new sanctions against Russia over Moscow’s stance on the crisis in Ukraine, the joint statement said Wednesday.

“Russia still has the opportunity to choose the path of de-escalation, which would lead to the removal of these sanctions. If it does not do so, however, we remain ready to further intensify the costs of its adverse actions,” the leaders said in a statement.

The G7 group has again accused Moscow of destabilizing the situation in Ukraine.

“We remain convinced that there must be a political solution to the current conflict, which is causing rising numbers of civilian casualties. We call for a peaceful settlement of the crisis in Ukraine and underline the need to implement President Poroshenko’s peace plan without any further delay,” the statement says.

“To this end, we urge all parties to establish a swift, genuine, and sustainable general cease-fire on the basis of the Berlin Declaration of 2 July with the aim of maintaining Ukraine’s territorial integrity,” it said.

G7 leaders have also called on Russia to use its influence with the independence supporters and “ensure effective border control, including through OSCE observers.”

The EU Permanent Representatives Committee (Coreper) agreed Tuesday on a new package of sanctions targeting Russia’s financial, energy and defense sectors, followed swiftly by a new round of US penalties against Moscow.

Russia has repeatedly called the «language of sanctions» counterproductive and said these measures would have a boomerang effect.

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