G7 threatens Russia with new sanctions if it does not agree to a ceasefire in Ukraine.
In this article: The G7 has warned Russia that if it does not agree to a ceasefire in Ukraine, new sanctions and the seizing of frozen Russian assets will follow.
In this article: The G7 has warned Russia that if it does not agree to a ceasefire in Ukraine, new sanctions and the seizing of frozen Russian assets will follow. Trump is trying to persuade Putin to accept a 30-day cease-fire, but Russia has been slow, prompting increased pressure from Western allies. Russia is entrenched in Kursk, while Ukraine denies claims it has encircled its troops and Zelensky accuses Moscow of dragging out negotiations. the United States and its G7 allies warned Russia on Friday that rejecting a cease-fire in Ukraine would lead to tougher sanctions and possibly the use of frozen Russian assets to fund Kiev's defense. The G7 foreign ministers issued a joint statement after a meeting in Canada as President Donald Trump, who is pushing for a cease-fire, tries to persuade President Vladimir Putin to sign a deal. Ukraine has already agreed to a 30-day cease-fire, but Russia is in no hurry. Marco Rubio, Trump's secretary of state, said at the G7 that Washington is still trying to figure out if Putin's stalling of talks is deliberate. The question is, are we really moving toward a cease-fire or is this a wait-and-see tactic? Rubio said. While the G7 has threatened economic retaliation, Trump has refrained from immediate U. S. sanctions, hoping diplomacy will work first. the Russian Central Bank's 300 billion euros worth of assets, mostly cash and government bonds, have been frozen since 2022, and more and more people are speaking out in favor of using them against Moscow. Rubio said any cease-fire agreement would require concessions from both sides. I've never heard Trump say that Russia has the right to take over all of Ukraine and do whatever it wants, Rubio said Friday.
Canada's Foreign Minister Melanie Joly has made it clear that the next step is up to Russia.
Read us at: Compass Investments
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.