G7 looks for ways to punish Russia while taking on China
“We will continue to impose severe and immediate economic costs on President Putin's regime for its unjustifiable war of aggression against Ukraine,” the G-7 said in their final statement released Tuesday.

At the conclusion of a G-7 summit in Germany, leaders stressed their “unwavering commitment” to the government and people of Ukraine, and made clear their determination to make Vladimir Putin pay for his invasion.
“We will continue to impose severe and immediate economic costs on President Putin's regime for its unjustifiable war of aggression against Ukraine,” the G-7 said in their final statement released Tuesday.
After three days of deliberations in the Bavarian Alps that were dominated by the war and its global fallout, the leaders pledged to step up efforts on global energy and food security, and to stabilize economies still recovering from the Covid-19 pandemic. Chancellor Olaf Scholz called it “an important summit in extraordinary times.”
But the means of tackling their shared challenges, including a proposed cap on Russia oil prices, remained largely aspirational.
CHINA CHALLENGE
While Russia's war on Ukraine dominated, G-7 leaders had an eye on the next major challenge, with a section of their communique addressed to an increasingly assertive China. That's also a topic for those leaders heading to Madrid for a NATO summit.
There is “no legal basis for China's expansive maritime claims in the South China Sea,” they said, reminding Beijing of the need to uphold its obligations under international law and to “abstain from threats, coercion, intimidation measures or use of force.”
They called on China to respect its commitments to democracy in Hong Kong, referred to Beijing's “non-transparent and market-distorting interventions” in the economy, and expressed grave concern over the human rights situation in Tibet and Xinjiang.
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