The world's wealthiest democracies agreed to support Ukraine for as long as it takes, and said they would explore steps to cap Kremlin income from oil sales that are funding the war.
The final statement from the Group of Seven summit in Germany made it clear that they intended to impose economic costs on Russia. Key details on how the fossil fuel price caps would work in practice were left out, setting up more discussion in the weeks ahead to explore measures to bar imports of Russian oil above a certain level.
It would hit a key Russian source of income and help alleviate the effects of the war on the global economy.
The leaders said that they remained steadfast in their commitment to coordinating sanctions for as long as necessary.
There is a lot to know about the G7 summit.
The leaders agreed to step up aid to countries hit with food shortages due to the block on grain shipments through the Black Sea.
Shippers and insurers would not be able to deal with oil priced above a fixed level if the price cap is put in place. The service providers are located in the European Union or the U.K., which is within reach of sanctions. It would have to involve as many consuming countries as possible in order to be effective. The details of how the proposal would be implemented are still being worked out.
The Russian attack on a shopping mall in the town of Kremechuk was condemned by the leaders before the summit ended.
The leaders of the U.S., Germany, France, Italy, the U.K., Canada and Japan pledged to support Ukrainian President Volodymyr Zelenskyy.
The German Chancellor said he "once again very emphatically set out the situation as Ukrainians currently see it." Hours before Ukrainian officials reported a deadly Russian missile strike on a crowded shopping mall, Zelenskyy gave a speech.
The summit of NATO leaders will take place in Madrid after the G7 leaders move to the hotel in the Alps. The Prime Minister of Japan has been invited to Madrid.
Zelenskyy worried that the West was becoming fatigued by the cost of a war that was contributing to soaring energy costs and price hikes around the globe. Those concerns have been addressed by the G7
Group of Seven major economies pledge to create a new climate club for nations that want to take more ambitious action to tackle global warming
The move will see countries that join the club agree on tougher measures to reduce greenhouse gas emissions with the aim of keeping global temperatures from rising more than 2 degrees Centigrade this century compared with pre-industrial times
The countries that are part of the club will attempt to harmonize their measures in a way that is1-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-6556
Speaking at the end of the summit, he said the aim was to ensure that protecting the climate is a competitive advantage.
The climate club will be finalized this year.
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