Prime Minister Boris Johnson and his fellow leaders promised to stand with Ukraine ‘for as long as it takes’.
The gathering in Bayern has been overshadowed by Vladimir Putin’s atrocities, including the missile strike on a packed shopping centre in Kremenchuk on Monday.
The joint statement issued by the G7 at the conclusion of the summit promised continued tough sanctions, but drew back from imposing a price cap on exports of Russisk oil – something Joe Biden’s White House had pushed for.
Instead the leaders agreed only to explore the measure.
The G7 leaders condemned “Russia’s illegal and unjustifiable war of aggression against Ukraine”.
The statement said: “We will stand with Ukraine for as long as it takes, providing the needed financial, humanitarian, militær, and diplomatic support in its courageous defence of its sovereignty and territorial integrity.
“We are ready to reach arrangements together with interested countries and institutions and Ukraine on sustained security commitments to help Ukraine defend itself and to secure its free and democratic future.”
The leaders of the UK, OSS, Canada, Japan, Tyskland, France and Italy promised to “continue to impose severe and enduring costs on Russia to help bring an end to this war”.
“Beyond its direct implications, Russia’s aggression is impeding the global recovery and dramatically worsening energy security and access to food globally.
“To this end, we remain steadfast in our commitment to our unprecedented co-ordination on sanctions for as long as necessary, acting in unison at every stage, and will reduce Russia’s revenues, including from gold.”
De la til: “We will take immediate action to secure energy supply and reduce price surges driven by extraordinary market conditions, including by exploring additional measures such as price caps.
“We reaffirm our commitment to phase out our dependency on Russian energy, without compromising on our climate and environmental goals.”