G7 finance ministers in Banff commit to backing beleaguered Ukraine in communique tough on Moscow
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When asked about disunity among G7 delegates on the Ukraine issue and economic ones, Champagne said âsome of you questioned whether weâd come out with a communique.â
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On Tuesday, Champagne spoke to reporters alongside Kyivâs Finance Minister Sergii Marchenko, the only non-G7 ministers to attend the Banff meeting. Prime Minister Mark Carney has also invited Ukrainian President Volodymyr Zelensky to next monthâs G7 leadersâ summit in Kananaskis. Champagne said thatâs a sign of the commitment to the country thatâs been trying to roll back a full-scale Russian invasion since February, 2022 and pro-Moscow separatistsâ 2014 seizure of parts of its eastern Donbas region.
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The G7 stance comes as Russian President Vladimir Putin has rejected committing to a ceasefire in the war in which his forces are on the attack.
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The war in Ukraine has largely settled into a stalemate on a 1,000-km front line along the countryâs eastern and southern regions while Kyivâs forces maintain a foothold in a slice of Russia that they invaded last summer.
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Both sides trade daily air attacks meant to erode each othersâ military and economic capacity and their populationâs will to fight.
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The Kremlin says no new direct peace talks are planned while the Ukrainians say the Russians are preparing for a summer offensive to seize more territory.
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On Thursday, Germany pledged to defend Lithuania in the event of Russian aggression and has begun deploying an armoured brigade in the Baltic state, the first one since the Second World War.
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A G7 expert said the language in the ministersâ communique takes a harder line against Moscow than heâd expected, especially considering it was co-authored by a delegation from the U.S. thatâs recently been more sympathetic to Russia.
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âIt talks about ramping up sanctions, not reducing them so itâs a one-way streetâŚit replacesâ illegalâ invasion with the word âbrutalâ and brutal is pretty tough,â said Prof. John Kirton, director of the G7 Research Group at the University of Toronto.
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âBy saying âunwavering supportâ for Ukraine is actually an important shift in Trumpâs position â Trumpâs instinct to give Putin the benefit of the doubt is clearly gone.â
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Demanding war reparations from Russia among a G7 group with potential dissent from the U.S., he said, âis a big dealâ.
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The groupâs commitment to holding onto Russian financial assets is notable, said Kirton, although it says nothing about transferring them to Ukraine itself.
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The G7 ministers said the push for Ukraineâs early reconstruction would continue at a meeting in Rome in July.
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The communique noted there are external challenges facing the reconstruction of Ukraine while it remains under fire by its larger neighbour.
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That could be overcome by working with international financial institutions âand the insurance industry towards removing the blanket ban imposed on Ukraine as soon as possible,â it said.
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BKaufmann@postmedia.com
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X: @BillKaufmannjrn
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