G7 urges China to end support for Russia's war against Ukraine
G7 urges China to сease support for war against Ukraine (Photo: Getty Images)
Leaders of the Group of Seven call on China to stop supporting Russia's war against Ukraine following their meeting in Italy. This is stated in the draft G7 summit statement, according to Bloomberg.
Kyiv's allies accuse Beijing of supplying Russia with technologies and parts - either found in weapons or necessary for their production - helping Moscow circumvent G7 trade restrictions on many of these goods. Prohibited materials often reach Russia through third countries, such as China and Turkey, or via intermediary networks.
"China’s ongoing support for Russia’s defense industrial base has significant and broad-based security implications," reads the draft statement, which may still change before being finalized by the leaders at the summit in Italy, set to begin on June 13.
In efforts to counter sanctions evasion, G7 and EU countries are expected to introduce new restrictions in the coming days.
Discussed measures include listing more companies, targeting banks in third countries facilitating trade, requiring companies to tighten checks on their subsidiaries and subcontractors abroad, and expanding restrictions on Western brand goods still reaching Russia.
The Group of Seven also urges Beijing to push Russia to withdraw its troops from Ukraine and support a just peace.
Western countries' relations with China
Trade tensions between G7 countries and China will be reflected more broadly in the statement. Leaders are expected to state that China's policies "are creating global spillovers, market distortions, and harmful overcapacity in a range of sectors," according to the draft.
The Group of Seven will reaffirm their efforts to reduce critical dependencies on China while clarifying that they do not intend to sever relations.
"We are not trying to harm China or thwart its economic development, indeed a growing China that plays by international rules would be of global interest," the draft states.
The discussion takes place amid increasing trade tensions between the West and China, as the EU is set to confirm this week that it will impose tariffs on electric vehicles from July, and Beijing is expected to respond.
G7 Summit priorities
During the meeting from June 13-15 in Italy, the leaders of the world's most developed democratic countries will discuss numerous issues, including Russia's wars against Ukraine and the Middle East, trade imbalances with China, threats posed by artificial intelligence, and development challenges in Africa.
Increasing funding for Ukraine will be a top priority at the G7 meeting, as US and European officials seek solutions ahead of a potential re-election of Donald Trump and the uncertainty it would bring to future US support for Kyiv.
G7 countries and the European Union are considering how to use profits from Russian assets frozen in the West to provide Ukraine with a substantial upfront loan to secure Kyiv's financing for 2025.
US President Joe Biden will press other G7 leaders to agree to an innovative plan to use future interest from $280 billion of Russia's central bank reserves to support a $50 billion loan to Ukraine.
