(MENAFN- The Journal Of Turkish Weekly)
The world's seven most advanced economies have voiced concern over the recent increase in fighting in eastern Ukraine and warned Russia with further sanctions.
"Here at the G7, we agreed that even as we will continue to seek a diplomatic solution, sanctions against Russia will remain in place so long as Russia continues to violate its obligations under the Minsk agreements," U.S. President Barack Obama said Monday at the G7 summit at the luxury hotel Elmau Castle in Bavarian Alps.
"As we've seen again in recent days, Russian forces continue to operate in eastern Ukraine, violating Ukraine's sovereignty and territorial integrity," Obama said.
A joint declaration by leaders of the G7 nations at the end of a two-day summit reaffirmed support for a diplomatic solution to the conflict in eastern Ukraine, but also warned Russia with further sanctions.
"We recall that the duration of sanctions should be clearly linked to Russia's complete implementation of the Minsk agreements and respect for Ukraine's sovereignty," it said.
"They can be rolled back when Russia meets these commitments. However, we also stand ready to take further restrictive measures in order to increase cost on Russia should its actions so require. We expect Russia to stop trans-border support of separatist forces and to use its considerable influence over the separatists to meet their Minsk commitments in full," it added.
The crisis in eastern Ukraine has been among the key topics of the summit of G7 nations, which includes the U.S., Germany, Britain, Canada, France, Italy and Japan.
World's most advanced economies formed the World Economic Summit, in 1975 which later evolved into the G7 and then the G8.
Russia had became the eight member of the forum in 1998, but was excluded from the meetings in 2014, due its annexation of Crimea.
Germany, which is currently holding the rotating presidency of the group did not extend invitation to Russia for the annual summit due to its annexation of Crimea and policies towards Ukraine.
"This is now the second year in a row that the G7 has met without Russia - another example of Russia's isolation - and every member of the G7 continues to maintain sanctions on Russia for its aggression against Ukraine," Obama said Monday.
"Now, it's important to recognize the Russian economy has been seriously weakened" Russia is in deep recession. So, Russia's actions in Ukraine are hurting Russia and hurting the Russian people," he said.
The fighting in Eastern Ukraine has intensified last week despite the cease-fire agreement between separatists and Ukrainian forces.
The Feb. 12 Minsk cease-fire agreement, which includes among other stipulations the withdrawal of heavy weaponry and of all foreign armed formations from combat areas, has failed to be implemented fully, with daily reports of breaches and clashes. Both parties blame each other for violating the accord.
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