OREANDA-NEWS The West will continue to "increase economic and political costs" of the Russian authorities, the leaders of Germany and France said after the G7 summit. Both Scholz and Macron noted that "Russia should not win".

Sanctions against Russia will remain in place for as long as necessary, French President Emmanuel Macron said at a press conference following the G7 summit in Elmau, BFM TV reports. "Russia [...] must not win. Our support for Ukraine and our sanctions against Russia will continue for as long as necessary", he noted.

The fact that the West will continue to increase pressure on Moscow, was also confirmed by German Chancellor Olaf Scholz. He claimed that "Russia should not win" the armed conflict. "The G7 remains united in their support for Ukraine. We will continue to support and increase the economic and political costs [...] for President Putin and his regime", the Chancellor claimed.

The G7 summit (an informal association that includes Britain, Germany, France, the USA, Italy, Canada and Japan) was held from 26 to 28 June in the Elmau Castle located in the Bavarian Alps. As a result of the talks, the leaders of the G7 member countries announced that they intend to continue to impose "targeted sanctions" against Russia. In particular, US President Joe Biden said that the G7 will prohibit the import of Russian gold. In addition, the countries are considering imposing a ceiling on Russian gas prices to cut Moscow's revenue from energy exports.

The Kremlin has repeatedly called Western sanctions against Russia illegal.