G7 threatens to tighten sanctions against Russia

The G7 countries have threatened Russia with tougher sanctions if there is no agreement on a ceasefire in Ukraine. The relevant document was published on May 22 following a meeting of G7 finance ministers and central bank governors in Ottawa.

"We welcome the ongoing efforts aimed at a ceasefire. If it is not achieved, we will continue to explore all possible options for action, including those aimed at maximizing pressure, such as further tightening of sanctions [against Russia]," the statement said.

The G7 representatives also stressed that they would try to strengthen the confidence of foreign investors in Kiev, which would allow the restoration of the activities of the foreign insurance industry there.

The document also announced the possible holding of a Western conference on the restoration of Ukraine. It is supposed to take place from July 10 to July 11 in Rome.

Sanctions price: meeting in Canada revealed a split in the G7 camp

What is the difference between the approaches of the United States and Kiev's allies to the problem of settlement in Ukraine

Politico reported on May 21 that the United States opposes the inclusion of a clause on further support for the Kiev regime in the final statement of the G7 finance ministers meeting, which is taking place in Canada.