G7 leaders: Russia will need to pay for restoration of Ukraine

This is underscored in the joint statement made by G7 leaders following the virtual summit on December 12, released on the website of the German presidency of the Group.

“Russia will ultimately need to pay for the restoration of critical infrastructure damaged or destroyed through its brutal war. There can be no impunity for war crimes and other atrocities. We will hold President Putin and those responsible to account in accordance with international law,” reads the document.

The signatories are determined to help Ukraine repair, restore and defend its critical energy and water infrastructure.

“We will help Ukraine in meeting its winter preparedness needs, will continue to support Ukraine’s civilian resilience, and will further enhance our efforts on this during the international conference to be held in Paris on 13 December,” reads the statement.

Building on their commitments, the G7 countries will continue to galvanise international support to help address Ukraine’s urgent short-term financing needs. To this end, the G7 finance ministers will convene shortly to discuss a joint approach for coordinated budget support in 2023. The IMF will be central to this effort.

“With a view to supporting Ukraine’s repair, recovery and reconstruction, together with Ukraine and our international partners and in close coordination with relevant International Organisations and International Financial Institutions, we will establish a multi-agency Donor Coordination Platform. Through this platform, we will coordinate existing mechanisms to provide ongoing short- and long-term support – with particular responsibility of the Finance Track for short-term financial support –, coordinate further international funding and expertise, and encourage Ukraine’s reform agenda as well as private sector led growth. We will also set up a Secretariat for the Platform,” the statement says.

The G7 leaders reaffirm their unwavering support for and solidarity with Ukraine in the face of the ongoing Russian war of aggression for as long as it takes. We condemn Russia’s continuous inhumane and brutal attacks targeting critical infrastructure, in particular energy and water facilities, and cities across Ukraine.

“Indiscriminate attacks and attacks on the civilian population or civilian objects, constitute a war crime,” they underscore.

The G7 leaders also condemn those who are facilitating Putin’s illegal war.

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