World leaders gathered today in the Japanese city of Hiroshima for a three-day G7 summit. Ukrainian President Volodimir Zelensky is also present on Sunday. A special session on Ukraine was scheduled for Zelensky’s visit on Sunday, Financial Times and Bloomberg sources said, according to Financial Times and Bloomberg sources. “Very important decisions are being made there, so it is absolutely essential that our president is there to defend our interests,” Oleksiy Danilov of Ukraine’s National Security and Defense Council told state television.
G7 summit in Japan
The G7 consists of the United States, Germany, France, Italy, Japan, the United Kingdom and Canada. In addition, leaders from countries such as India, Brazil, Indonesia, South Korea, Australia and Vietnam were invited. This is seen as an attempt to bring hesitant countries closer to the G7 on sensitive issues such as the war in Ukraine.
As a result of the war, Russia has already received “a sizable list of sanctions,” says sanctions lawyer Heleen of de Linden. ‘While the effectiveness of this is not yet very easy to measure, we have indications that it will affect Russia well. Of course we also have a lot of sanctions, things like an oil embargo and other import and export bans, hitting Russia – or at least the Kremlin – right in the wallet.
According to Over de Linden, the sanctions in the field of technology are also “very annoying” for the Russians. “It directly affects their military capabilities. But even here we are trying to set up structures to circumvent the sanctions. The effectiveness also depends on this.’ “A complex story, but it’s very good that we’re doing it.”
“All in all, it is very good that we are doing this”
Russian diamonds
At the summit, the UK and the European Union announced further sanctions. For example, the British are introducing a ban on diamonds and Russian metals such as copper, aluminum and nickel. The EU will “restrict” the trade in Russian diamonds. “It is certainly useful and necessary to continue with the sanctions, also as a sign for Zelensky,” says Over de Linden.
However, the 11th sanctions package, which was due to take effect last week, was canceled due to disagreements. “I was also hopeful that it would be announced last week. But if the Member States do not reach an agreement, the package will not enter into force.’ However, he thinks this problem will be “solved very soon”.
Blacklist
Although the pressure increases every time, it is “the Russians who are not showing that they are suffering,” says Over de Linden. “But for any person or company that gets blacklisted, it’s very annoying. It’s all very drastic, but they won’t show it. Bringing Putin to his knees is very difficult, because it is a large economy and the largest country in the world with a lot of raw materials. It’s not a small country that you can bring to its knees quickly, you really have to do your best.’
Source: BNR
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