G7 leaders agree to maintain sanctions against Russia

The Group of Seven (G-7) has today reached agreements on sanctions against Russia and global treaties, overcoming tensions over two issues that threatened to put US President Donald Trump on the other six global leaders.

The nations have agreed to maintain sanctions against Moscow for their interference in Ukraine until the obligations of a peace agreement negotiated in Minsk, Belarus, are fulfilled. We are also ready to take more restrictive measures to increase the costs of Russian stocks, "said a statement prepared by the seven leaders.

The new president of France, Emmanuelle Macron, will host Russian President Vladimir Putin on Monday in Paris for the first meeting between the two leaders. "Talking to Russia is indispensable," Macron said. "There are a lot of problems that we will not solve without talking to the Russians, especially about Syria." "I'll talk to him about it, without concessions on Ukraine," he added.

On trade policy, the leaders agreed to "fight against protectionism," and supported the authority of the World Trade Organization (WTO) in global trade rules. "We are committed to working together to improve the functioning of the WTO to ensure the full, transparent and effective implementation of all WTO rules by all members," the leaders' statement said.

On Twitter, Trump wrote that the G-7 is struggling to end all trade-distorting practices. "I have had great meetings on everything, especially on trade where ... 'we press for the removal of all practices that distort trade ... to promote a level playing field.'"

Trump met with the leaders of the UK, Japan, Germany, France, Italy and Canada during the event, but it was unclear what he meant on Twitter.

 Source: Dow Jones Newswires