G7 Leaders Wrap Up Meeting With Plans to Increase Sanctions on Russia, Form 'Climate Club'

G7 Leaders Wrap Up Meeting With Plans to Increase Sanctions on Russia, Form ‘Climate Club'

The leaders of seven of the world's largest economies met with Ukrainian President Volodymyr Zelenskyy via video link.The Group of Seven developed economies on Tuesday wraps up a summit intended to send a strong signal of long-term commitment to Ukraine's future, ensuring that Russia pays a higher price for its invasion while also attempting to alleviate a global hunger crisis and show unity against climate change.

The leaders of the U.S., Germany, France, Italy, the U.K., Canada and Japan on Monday pledged to support Ukraine “for as long as it takes” after conferring by video link with Ukrainian President Volodymyr Zelenskyy. The summit host, German Chancellor Olaf Scholz, said he “once again very emphatically set out the situation as Ukraine currently sees it.” Zelenskyy's address, amid a grinding Russian advance in Ukraine's east, came hours before Ukrainian officials reported a deadly Russian missile strike on a crowded shopping mall in the central city of Kremenchuk.

Officials have said during the summit that leaders of the major economies are preparing to unveil plans to pursue a price cap on Russian oil, raise tariffs on Russian goods and impose other new sanctions.

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