G7 continues commitment to Ukraine for peace and reconstruction

On May 21, the G7 leaders and Ukraine’s President Volodymyr Zelenskyy, who attended as a guest, discussed the situation in Ukraine at the G7 Hiroshima Summit. The G7 leaders expressed their shared resolve to confront Russia’s “illegal, unjustifiable, and unprovoked war of aggression against Ukraine.”

The delegation of leaders didn’t mince words, decrying Russia’s flagrant contravention of the United Nations Charter, drawing particular attention to the human suffering and global instability triggered by this violation. In a spirited show of solidarity, they pledged an unwavering tableau of support for Ukraine, extending across financial, humanitarian, military, and diplomatic arenas, and underscored the intent to heighten sanctions against Russia.

The G7 leaders were unequivocal in their demand for Russia to halt its military activities and withdraw its forces unconditionally from Ukrainian soil. They took Russia to task for its disturbing nuclear rhetoric, combined with its proposed deployment of nuclear weapons in Belarus. Alarm bells also rang out regarding Russia’s commandeering and militarization of the Zaporizhzhya Nuclear Power Plant, with an assertive nod of support given to the International Atomic Energy Agency’s efforts to secure safety and security.

Notably, the summit highlighted a collective commitment to further fortify Ukraine’s security apparatus, spotlighting the significance of cohesive military and defense aid. The G7 leaders were steadfast in their assurance of considerable economic support, heralding the International Monetary Fund’s nod for the Extended Fund Facility and emphasizing swift implementation of Ukrainian reforms. They placed a spotlight on the indispensable role of the private sector in Ukraine’s recovery trajectory, via trade and investment buoyed by risk management instruments such as insurance.

The summit commended Ukraine’s resolute pursuit of corruption eradication and governance amelioration, offering backing for its drive to bolster institutional building and legal reform.

In the economic arena, G7 leaders maintained a unified front against Russia’s activities. They plan to continue imposing sanctions to hinder Russia’s war-waging capabilities, notably by further curtailing Russia’s economic access. The plans involve expanding these actions to encompass all exports vital to Russia’s aggression, targeting key sectors crucial to Russia’s war machinery. Leaders agreed to enhance measures to foil evasion and circumvention of these sanctions, including clamping down on entities providing material to the war front.

The issue of responsibility for damage was squarely addressed, with the G7 leaders resolved to ensure Russia foots the bill for Ukraine’s long-term reconstruction. They welcomed the creation of a Registry of Damages from Russia’s aggression and committed to domestic measures to immobilize, seize and, where apt, confiscate assets of those sanctioned in relation to Russia’s aggression.

The subject of accountability was taken up with vigor. Leaders stressed the imperative for justice regarding war crimes and atrocities committed by Russia, from assaults on civilians to infrastructure attacks. They pledged support for international mechanisms such as the International Criminal Court to hold the guilty parties to account, resoundingly condemning the unlawful transfer of Ukrainians to Russia, and voicing their disgust at conflict-related sexual and gender-based violence against Ukrainians.

Finally, G7 leaders reaffirmed their commitment to support countries rendered vulnerable by Russia’s aggression. They noted Russia’s weaponization of food supplies, leading to escalating global food insecurity and economic instability, worsening already dire humanitarian crises. They welcomed emergency financing initiatives and pledged to persist with providing rapid assistance, including through the Global Alliance for Food Security. Leaders also resolved to collaborate concretely on enhancing energy security and mitigating the impacts of the global energy crisis triggered by Russia’s aggression against Ukraine.