Hiroshima At the start of the G7 meeting in Hiroshima, the heads of state and government pick up a shovel. In the Peace Museum, which commemorates the US atomic bomb attack on the city on August 6, 1945, Joe Biden, Olaf Scholz and the other heads of government plant cherry trees in memory of the victims and lay wreaths in front of the impressive backdrop of the atomic bomb dome.
Hiroshima is “a memorial that we have a responsibility for peace and security in the world,” Chancellor Scholz (SPD) said before the summit began.
The G7 wants to meet this responsibility not only with words but also with deeds at their summit – and after Russia’s attack on Ukraine decided on further economic sanctions against Moscow on the first day of the summit.
Building on previous measures, the G7 countries announced that they would sanction all exports “that Russia uses to rebuild its war machine,” the summit statement said. Specifically, the G7 names the manufacturing sector, construction, transport and business services. Russia will be starved of G7 technology, industrial equipment and services.
The G7 group threatened consequences for states and companies that support Russia’s war. They would have to expect “significant costs,” the statement said. The G7 countries want to prevent sanctions against Russia from being circumvented. Because many countries do not support the Western sanctions, the sanctions are circumvented, for example by exports being processed via third countries.
The G7 sees it as its responsibility to ensure peace in the world.
(Photo: via REUTERS)
The G7 wants to put a stop to this in the future, among other things, by further restricting Russia’s access to the international financial system. For example, the Western group of states wants to prevent branches of Russian banks in third countries from being used to circumvent sanctions.
G7: Russia must not use energy as a weapon
The G7 also wants to sharpen the punitive measures in the energy sector. Dependence on Russia for oil and gas has already been significantly reduced. “We are determined to continue on this path so that Russia is no longer able to use its energy as a weapon against us,” the statement said, albeit vaguely.
The announcement of restricting the export of Russian diamonds in order to reduce Russian income from the lucrative trade also remained vague. They want to continue to “work closely together” here, the statement said.
According to information from EU circles, this is to ensure that precious stones traded via countries such as India and the United Arab Emirates can still be identified as Russian diamonds even after they have been resold. In the EU, the trade in Russian diamonds has already fallen by around 80 percent as a result of voluntary commitments, it said.
G7 coordinate new sanctions against Russia
Russia is considered the world’s largest producer of rough diamonds, and the diamond trade is a good source of income for Russia. The state sponsor Alrosa generated around four billion euros in revenue in 2021.
Even before the summit, the US and Great Britain had announced additional punitive measures against Russia and its supporters. The new US sanctions package will block about 70 Russian and third-country entities from US exports by adding them to the US Commerce Department’s blacklist, according to US officials.
EU is working on a new package of sanctions against Russia
The USA also wants to impose further penalties on more than 300 people, companies and organizations, ships and aircraft. It is about financial and other supporters of Russia. The sanctions hit targets in Europe, the Middle East and Asia. States should also be empowered to extend sanctions to the digital sector of the Russian economy.
British Prime Minister Rishi Sunak announced a ban on Russian diamonds and imports of metals such as copper, aluminum and nickel from Russia. Britain is also targeting another 86 individuals and companies from Russian President Vladimir Putin’s military-industrial complex operating in the energy, metals and shipping industries, the government said in a statement.
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The 27 EU states are also currently working on a new package of sanctions, which is now the eleventh, but which has not yet been completed. EU sanctions against Russian goods are considered to be particularly effective because the Union is a much larger trading partner for Russia than, for example, the USA or Great Britain. Japan and Canada are also expected to announce new sanctions.
US fails with push for export ban
In the run-up to the G7 summit, the White House advocated even more extensive sanctions and advocated completely changing the sanctions system in order to prevent circumvention. The idea was a complete export ban, which should be supplemented with a list of exceptions.
But now it stays the other way around. Bans on individual goods and product groups are pronounced and extended. A ban on all exports and services is not only politically difficult, but also legally delicate, it said. Experts believe that a complete export ban could at best be agreed as a wish for the future.
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In its statement on Ukraine, the G7 once again urges Russia to completely withdraw its troops from Ukraine. “Russia started this war and can end this war,” it said. “We underscore that there can be no just peace without the complete and unconditional withdrawal of Russian troops and military equipment, and any call for peace must take this into account.”
At their summit, the G7 also wants to discuss further support for Ukraine. According to EU Council President Charles Michel, the possible delivery of F-16 fighter jets to Ukraine will also be an issue. “It is very clear that Ukraine needs more military equipment,” Michel said.
US news channel CNN previously reported that Biden had signaled to European allies that the US would allow them to ship US-built F-16 fighter jets to Ukraine.
According to the EU Council President, the possible delivery of F-16 fighter jets to Ukraine will also be an issue.
(Photo: dpa)
On Tuesday, Britain and the Netherlands confirmed they would form an international coalition to help Ukraine procure F-16s. It is also supported by France. In a first step, Ukrainian pilots are to be trained for this.
On the first day of the summit, the G7 will discuss not only Ukraine but also the state of the global economy. On Sunday, Ukraine’s President Volodymyr Zelenskiy is to attend the G7 summit and, for the first time, personally take part in the summit meeting of the most powerful western heads of government, it was said.
In addition to the Ukraine war, dealing with China will be the second major topic at the summit. For the first time in history, the G7 has its own working session on the subject of “Economic Security”. A declaration against “economic coercion” is also planned for the first time, naming China as an actor that puts trading partners under pressure through coercive measures.
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