G7 leaders reaffirm commitment to ‘severe costs’ for Russia and ‘unwavering support’ for Ukraine.

Leaders of the Group of Seven (G7) released a statement reaffirming their “unwavering support for Ukraine for as long as it takes” and commitment to “severe costs” for Russia on Nov. 16.
“Russia remains the sole obstacle to just and lasting peace,” the statement read. “The G7 confirms its commitment to imposing severe costs on Russia through sanctions, export controls and other effective measures.”
Italian Prime Minister Giorgia Meloni, whose country is currently serving in the rotating presidency of the group, initiated the statement as the 1,000th day of the war approaches.
In October, the G7 announced it reached an agreement to provide Ukraine with approximately $50 billion in loans backed by the revenue from foreign Russian assets.
The funds will support Ukraine’s economic, defense, and reconstruction needs.