Putin will be liable for the "political, and financial" costs of war by the G7

G7 countries are determined not to allow Russian President Vladimir Putin victory in the conflict in Ukraine. They will stand up against China's ambitions to dominate world trade and lead the fight against climate change.

At the conclusion of the summit of heads state and government from the United States, Canada and Germany, France and Great Britain, Olaf Scholz, the federal chancellor and host, stated that "Putin can't win this war". The head of the German Executive, after emphasizing the "unity" and decision of the group, acknowledged that there are no diplomatic options for ending the conflict. Scholz stated that Russia is continuing the war with "invariable brutality" at a press conference. He also said that Russia will be charged by the G7 for its "political, and financial costs."

While there will eventually be an agreement between the presidents of Russia, Ukraine and the EU, the head of Germany's government said that "currently that isn't the case". He stressed that it is important to keep Russia under pressure with more sanctions. . "There will be no way out until Putin admits that he's not capable of imposing any of his intentions. That is what it is now." The Social Democratic politician insisted that Putin must accept that he "will not be able" to dictate a peace agreement.

He pointed out at the end that President Putin's regime and the G7 countries would continue to pay "increasing and becoming increasingly costly political and economic cost." It is crucial to remain united in this regard, even over the long-term. Scholz stated that they will not accept the "Russian narrative", that only the West condemned the invasion of Ukraine, and that the rest of the globe only watches what Russia does there.

The federal chancellor repeated that the G7 supports Ukraine and will continue to support it "as long it takes" and with all the resources it requires. The foreign minister said that "we support the country's defense and offer it future perspectives." He also mentioned Monday's attack at a Kremenchuk shopping center and added that it was yet another proof that Putin is "maintaining his brutal aggression towards the civilian population."

He assured the elite group of rulers that they are concerned about the rising levels of hunger around the world due to the Russian blockade on decisive grain exports from Ukraine. "Currently, there are 345 millions people that we know don’t have enough food," Scholz said. He also spoke of the "existential danger" facing some African countries due to lack of grain supplies. The German Prime Minister stressed that this is why they want to take action and have formed a global alliance for food safety.

The third and final day was marked by the G7 leaders taking Scholz's proposal to create a Climate Club. This club will allow member countries to develop exemplary policies to stop global warming and support nations that require financial and technological aid to combat climate change.

The United States' initiative to create global infrastructures was also approved at the meeting. This is to counter China’s plans to dominate world trade through its New Silk Road. To avoid China's financial dependence, the G7 has committed to investing 600,000,000,000 euros in countries in Africa, Asia, and Latin America between 2027 and 2027. This will help to reduce their financial dependency on China. China grants large loans which often end up becoming debt traps.