Russian president Vladimir Putin will find himself on the wrong side of history for re-introducing war to Europe. This is the conclusion of the Group of Seven (G7) virtual meeting held on Thursday, 24 February, expressed in a joint statement.
“This crisis is a serious threat to the rules-based international order, with ramifications well beyond Europe,” the G7 leaders said in a joint statement. The G7 also condemned Belarus for its assistance in Russian aggression, saying it must abide by its international obligations.
US President Joe Biden said G7 leaders had agreed to move forward on “devastating packages of sanctions” and other economic measures to hold Russia accountable for its invasion of Ukraine.
The United States believes that Russia’s invasion of Ukraine is designed to decapitate Ukraine’s government, with one of the three main axes of assault being directed at the capital Kyiv, a senior US defense official said on Thursday.
FULL STAMENT: The G7 communiqué on Ukraine-Russia (note at the end comments about oil and gas markets) | #UkraineWar #Ukraine #OOTT pic.twitter.com/yzruXbe1EO
— Javier Blas (@JavierBlas) February 24, 2022
The EU is preparing a second package of sanctions on Russian targets, specifically oligarchs close to Russian president Vladimir Putin, an EU diplomat said. The financial, transport and energy sectors in Russia are all expected to be hit hard by new EU sanctions. The diplomat added he could see a situation where Belarus is also hit with sanctions as part of their continued support for Russia.
The sanctions with which the West will hit Moscow will decouple Russia from industrial development and damage its financial markets but are designed to open a way back to diplomacy, Germany’s economy minister said.