The G7 has collectively sanctioned close to $300 billion of Russian assets. Without sanctions, it is estimated that Russia would have over $400 billion to finance its war, enough to fund the invasion for another 4 years…reports Asian Lite News
Foreign Secretary David Cameron is travelling will urge his G7 counterparts to keep up the pressure on Putin as he continues to wage his illegal war with Ukraine, UK Foreign Office said in a statement.
During the G7 Foreign Ministers’ Meeting in Italy, Cameron will reiterate to the G7 the UK’s commitment to Israel’s security and discuss with his counterparts how to de-escalate regional tensions.
“The Foreign Secretary will make clear that partners in Europe and the G7 must spend more, produce more and deliver more to ensure that Ukraine can secure the victory that it deserves. He will call on G7 partners to work together to agree a clear and ambitious way forward to use sanctioned Russian assets to support Ukraine,” read the statement. “This builds on messaging delivered at the NATO Foreign Ministers’ Meeting in Brussels earlier this month.”
The G7 has collectively sanctioned close to $300 billion of Russian assets. Without sanctions, it is estimated that Russia would have over $400 billion to finance its war, enough to fund the invasion for another 4 years.
“Ukraine has our unequivocal support until it is victorious and achieves a just peace,” Cameron said. “It is vital that we agree a way forward to use sanctioned Russian assets to support Ukraine and ensure Russia pays for the destruction it has wreaked.”
The Foreign Secretary will continue to call for the G7 to pilot more ambitious efforts to undermine Russia’s defence industrial complex, including by pushing third countries to counter attempts to circumvent sanctions. He will urge partners to be prepared to act against those who help Russia to supply its war machine.
Meanwhile, responding to Iran’s failed and dangerous attack on Israel over the weekend, Cameron and his counterparts continue to call for restraint, ask those involved to consider the devastating consequences of an escalation in the conflict.
Cameron will also campaign for coordinated sanctions against Iran, ensuring the G7 shows a united front against Iran’s malign activity in the region. Meetings will also cover a range of other priorities around the world, including a more assertive China, reform of financial systems and irregular migration, according to Foreign Office.
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