G-7 leaders cancel Sochi summit over Russia's aggression

The document says: “We, the leaders of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States and the President of the European Council and President of the European Commission, join together today to condemn the Russian Federation’s clear violation of the sovereignty and territorial integrity of Ukraine which contradicts Russia’s commitments to the UN Statute and its basic agreement with Ukraine signed in 1997.”

The authors urged Russia to solve all the conflicts with Ukraine by negotiations or with the help of an international observation mission and expressed their desire to help with the process, UNIAN reports.  

"Russia’s actions in Ukraine also violate the principles the G-7 and G-8 base upon.  We have decided for the time being to suspend our participation in activities associated with the preparation of the scheduled G-8  Summit in Sochi in June", the G-7 leaders announced. According to the statement, the G-7 member states “support Ukraine’s sovereignty and territorial integrity and its right to choose its own future”. They promised to support Ukraine “in its efforts to restore integrity, stability and political and economic health in the country”.

The G-7 leaders promised to support Ukraine with the help of the International Monetary Fund “to discuss the new programme and conduct all the necessary reforms”. The IMF support will play a decisive part in getting additional support from the World Bank and other international financial institutions, the EU and bilateral sources, the authors noted.    

Photo: Reuters