Schloss Elmau (Germany):
Amid the ongoing Russia-Ukraine war, Ukrainian President Volodymyr Zelensky will be addressing the leaders of the Group of Seven (G7) on Monday (local time) to press Western nations for accelerated sanctions on Russia.
President Joe Biden and fellow world leaders huddled in the Bavarian Alps, will hear Monday from Ukrainian President Volodymyr Zelensky as they mull the next phase of his country’s grinding war with Russia, reported CNN.
The conflict has been at the centre of the Group of 7 summit being held inside a century-old mountainside castle in Germany’s Bavaria region.
Leaders have decided on new steps to isolate Russia’s economy, including a ban on new imports of Russian gold, and are pledging support for Zelensky as his country suffers setbacks in the east.
Moreover, President Biden announced that the group will impose new import bans on Russian gold as a punishment for Moscow’s ongoing invasion of Ukraine, reported The Hill.
US said that the G7 nations will ban the import of Russian gold with the aim of tightening sanctions screws on Moscow.
As the leaders of the world’s wealthiest nations gathered in the Bavarian Alps on the sidelines of the G7 Summit, President Joe Biden said, “Together, the G7 will announce that we will ban the import of Russian gold, a major export that rakes in tens of billions of dollars for Russia.”
Earlier as well, Biden tweeted, “The United States has imposed unprecedented costs on Putin to deny him the revenue he needs to fund his war against Ukraine. Together, the G7 will announce that we will ban the import of Russian gold, a major export that rakes in tens of billions of dollars for Russia.”
Notably, these measures were initially flagged by the United Kingdom. However, a senior US administration representative who spoke on condition of anonymity told reporters that the G7 would make an official announcement on the gold import ban on Tuesday.
A White House readout of Biden’s meeting with German Chancellor Olaf Scholz indicated Ukraine was a main topic of conversation.
“The leaders underlined their commitment to Ukraine’s sovereignty and territorial integrity, as well as their continued provision of military, economic, humanitarian, and diplomatic support to help Ukraine defend its democracy against Russian aggression,” the White House readout said.
“The leaders also discussed efforts to alleviate the impacts of Russia’s war in Ukraine on global food and energy security,” added the release.
“Here at this meeting of the G7, as well as at NATO, we will continue to do, collectively, everything we can to make sure that the Ukrainians have what they need in their hands to repel the Russian aggression,” US Secretary of State Antony Blinken said in an exclusive interview with CNN’s “State of the Union” on Sunday.
There are other important topics on the agenda, including a new effort to counter China’s infrastructure investments in the developing world that have extended Beijing’s influence across the globe, reported CNN.
The rising cost of energy, fears of global food shortages and the certain inevitability that war fatigue will set in have lent urgency to the discussions about where the conflict goes next.
Meeting his host, German Chancellor Olaf Scholz, on Sunday, Biden sought to underscore the importance of sticking together.
“Putin has been counting on, from the beginning, that somehow NATO and the G7 would splinter,” he said. “But we haven’t, and we’re not going to.”
Meanwhile, Zelensky is also planning to address this week’s NATO summit in Madrid, and has pressed the West for accelerated sanctions on Moscow and heavy artillery to beat back the Russian invaders, reported CNN.
His entreaties will become more urgent following Sunday’s missile hits on two residential buildings in Kyiv, the Ukrainian capital that had enjoyed relative calm in recent weeks as the fighting moved eastward.
High oil prices mean Russia is making more revenue from its energy exports, despite bans in Europe and the United States. And high gas prices for US and European consumers are putting pressure on leaders to find ways to ease the pain.
Speaking to CNN’s Jake Tapper on “State of the Union” hours after the Russian missiles hit Kyiv, British Prime Minister Boris Johnson urged Americans, Britons and others in the West to maintain resolve in punishing Moscow, despite the effect the war has had on global oil prices.
“I would just say to people in the United States that this is something that America historically does and has to do, and that is to step up for peace and freedom and democracy,” Johnson said.
“And if we let Putin get away with it, and just annex, conquer sizable parts of a free, independent, sovereign country, which is what he is poised to do … then the consequences for the world are absolutely catastrophic.”
Russia was ejected from the then-G8 in 2014 after Russia’s annexation of the Ukrainian territory of Crimea.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)