Meeting in Tokyo: G7 will strengthen sanctions against Russia, continue to support Ukraine

The foreign ministers of the Group of Seven (G7) countries during the session on Ukraine as part of a two-day meeting in Tokyo reaffirmed their commitment to increase sanctions pressure on Russia and continue to support Ukraine.

That's according to a statement posted on the website of the Ministry of Foreign Affairs of Japan, Ukrinform reports.

"As a result of the discussion, the G7 Foreign Ministers concurred that the G7 will remain united in its attitude to impose sever sanctions against Russia and provide strong support for Ukraine, even in today's international situation," the statement reads.

The G7 nations will also accelerate efforts for mid- to long-term recovery and reconstruction in the unity of public and private sectors and advance the process of the Ukrainian Peace Formula together with international partners.

The session on Ukraine, attended by the top diplomats of the G7 countries and EU High Representative for Foreign Affairs and Security Policy Josep Borrell, lasted about 80 minutes.

At the outset of the session, Japanese Foreign Minister Yoko Kamikawa stated that even as tensions increase in the Middle East, it is important for the G7 to be united in sending a clear message to the international community that their steadfast commitment to supporting Ukraine will never waver.

She also said that Japan would continue to implement further sanctions against Russia and support Ukraine. Regarding assistance, she explained that Japan has announced and has been steadily implementing a total of $7.6 billion to support Ukraine.

She also explained that Japan provided 2 autotransformers which benefit many citizens in Kyiv considering the increasing importance of winterization assistance as winter gets more sever.

She then said that mid- to long-term recovery and reconstruction support are also crucial, in which the role of the private sector is specially important, and that Japan is planning to hold the Japan-Ukraine Conference for promotion of Economic Reconstruction at the beginning of next year.

After the start of Russia's full-scale invasion of Ukraine, the European Union and the G7 countries froze almost half of Russia's foreign exchange reserves worth about EUR 300 billion, of which almost EUR 200 billion is in the EU.

In October 2022, EU leaders instructed the European Commission to prepare proposals for using the frozen assets of the aggressor country to finance Ukraine's reconstruction.