The finance ministers of the Group of Seven (G7) confirmed their ongoing support for Ukraine, while appearing to refrain from direct criticism of U.S. President Donald Trump's tariff policy.
According to the New York Times (NYT) and other major foreign media on the 22nd (local time), G7 finance ministers adopted a joint statement after concluding their meeting in Banff, Canada, condemning Russia's invasion of Ukraine and expressing support for Ukraine's sovereignty and independence for peace.
The joint statement included the phrase, "We condemn Russia's continued brutal war and support the resilience of the Ukrainian people and economy." The G7 also mentioned the possibility of additional sanctions against Russia if there is no progress toward peace in the future. Discussions were held on further lowering the price cap on Russian oil, currently limited to $60 per barrel, to $50, but no final agreement was reached.
The NYT noted that this statement emerged amid a changed U.S. foreign perspective under the Trump administration, highlighting the softened language regarding Russia compared to a year ago. At that time, Russia's invasion was explicitly termed as "illegal, unjustifiable, and provocative," but this time more cautious language was used.
Despite the meeting taking place amid global economic uncertainty due to Trump’s tariff policy, the joint statement avoided direct references to tariffs. Instead, it stated, "Uncertainties in economic policy have peaked and are declining, and we will work toward further progress in the future."
In this regard, the NYT reported, "While U.S. tariff policy poses a threat to the global economy, it seems that G7 member countries refrained from provocative language to avoid aggravating President Trump."
The joint statement also included concerns regarding North Korea's theft of virtual assets. The G7 expressed "serious concerns over unprecedented levels of virtual asset theft and fraud by countries such as North Korea," adding that it would strengthen responses to prevent money laundering.
Additionally, while the G7 did not directly mention China, it agreed to continuously monitor "non-market policies and practices" contributing to global trade imbalances. This is interpreted as a move targeting China's export subsidies and currency policies.
Traditional expressions of support for free trade were absent in this statement, and the G7 stance is to strengthen responses to substantial disruptive factors while maintaining the global trade order.