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6 Jun, 2015 11:52

G7 summit wraps up in Germany

G7 summit wraps up in Germany

The crisis in Ukraine and the Greek economy have been topping the agenda of the two-day G7 summit in southern Germany. The event has been overshadowed by mass demonstrations by anti-globalization protesters, who plan to hold more rallies.

  • 08 June 2015

    15:08 GMT

    “Existing sanctions must remain in place until Minsk agreements are fully implemented. This will require action from both Ukraine and Russia,” UK Prime Minister David Cameron told the media. “That’s why it’s vital we ensure President Poroshenko has the support needed to deliver the necessary political and economic reforms,” he added.

  • 14:54 GMT

    "There are currently no reasons" to lift sanctions against Russia, French President Francois Hollande said, adding that the sanctions are "likely" to be extended until the end of 2015. The issue will be reviewed by the European Council later in June, Hollande said.

    “Contacts with Russia must continue,” Hollande said. “If Russia was not invited to today’s summit, this does not mean that we do not need to have dialogue with it anymore.” He mentioned the “expanded format” of the G20, adding that “Russia plays a key role in negotiations on Syria, Iran and Ukraine.”

  • 14:50 GMT

    Angela Merkel also touched upon the issue of tackling climate change, calling on G7 nations to agree upon specific, binding emission goals ahead of a UN climate meeting at the end of the year.

    Merkel wants leaders at #G7Summit to commit to tough goals on climate change: http://t.co/1P1sFziketpic.twitter.com/tejD8OIXY0

    — Reuters Top News (@Reuters) June 8, 2015

  • 14:48 GMT

    German Chancellor Angela Merkel said she believed international conflicts can be solved in cooperation with Russia. "We have several negotiation formats in which Russia takes part,” she said at a media conference. “International crises can be solved with the Russian Federation.”

    However, she said that sanctions against Russia would remain in place until the ceasefire between Kiev’s forces and anti-government fighters in Ukraine holds. "We are also willing, if it is necessary, but which is not what we want, to toughen the sanctions if the situation requires us to do so." She added that no specific measures to toughen the sanctions have been discussed at the summit.

  • 14:42 GMT

    At the same time, the communique says G7 nations “commend and support the steps the Ukrainian government is taking to implement comprehensive structural reforms and urge the Ukrainian leadership to decisively continue the necessary fundamental transformation in line with IMF and EU commitments.”

    It goes on: “We reaffirm our commitment to working together with the international financial institutions and other partners to provide financial and technical support as Ukraine moves forward with its transformation. We ask the G7 ambassadors in Kiev to establish a Ukraine support group. Its task will be to advance Ukraine´s economic reform process through coordinated advice and assistance.”

  • 14:32 GMT

    Die Abschlusserklärung der #G7 jetzt online / #G7 Leaders’ Declaration now online: http://t.co/3JkgewVRXepic.twitter.com/9pdsJXUwNv

    — G7 (@g7) June 8, 2015

  • 14:30 GMT
  • 14:28 GMT

    US President Barack Obama says G7 has made it clear that it stands ready to implement additional significant sanctions against Russia. The summit’s communique reads: “we also stand ready to take further restrictive measures in order to increase cost on Russia should its actions so require.”

    G7 nations again accused Russia of “trans-border support of separatist forces,” something Moscow has denied time and again before, citing lack of proof to back up the accusations. They also call on Russia to “use its considerable influence over the separatists to meet their Minsk commitments in full,” and condemn “the illegal annexation of the Crimean peninsula by the Russian Federation.”

  • 14:24 GMT

    Sanctions against Russia will remain in place until the Minsk agreement on the Ukrainian peace process is observed, the G7 summit communique says: “The duration of sanctions should be clearly linked to Russia’s complete implementation of the Minsk agreements and respect for Ukraine’s sovereignty.”

  • 13:38 GMT