8 Nov 2023 14:38

Russia's assets within G7 jurisdiction to remain frozen until it pays compensation to Ukraine - G7 statement

TOKYO. Nov 8 (Interfax) - The Group of Seven is not planning to unfreeze Russian assets within the jurisdiction of its member states until Kiev receives compensation from Moscow, the G7 said in a statement following a meeting between its foreign ministers in Tokyo.

"We reaffirm that, consistent with our respective legal systems, Russia's sovereign assets in our jurisdictions will remain immobilized until Russia pays for the damage it has caused to Ukraine," the statement says.

The G7 will continue to counter attempts to circumvent the sanctions on Russia, it said.

"We reiterate our call for third parties to immediately cease providing material support to Russia's aggression, or face severe costs," it said.

The G7 foreign ministers also declared their determination to reinforce coordination between the countries to restrict Russia's access to critical goods and technology, reduce the revenues that Russia extracts from its exports, accelerate their consultations on energy, metals, and all non-industrial diamonds shipped from Russia, and continue to reduce their energy dependence on Russia.

The G7 countries also called on China not to assist Russia in the context of the Ukraine developments and to support a lasting peace in the region.