G7 to impose sanctions on Russia if it refuses ceasefire

The Group of Seven (G7) nations have announced their readiness to impose further sanctions on Russia and strengthen support for Ukraine if Moscow refuses to accept a ceasefire.
Source: a joint statement of the G7 foreign ministers adopted following their meeting in Canada, as reported by European Pravda
Details: In the statement, the ministers urged Russia "to reciprocate by agreeing to a ceasefire on equal terms and implementing it fully".
The statement noted that the G7 "discussed imposing further costs on Russia in case such a ceasefire is not agreed, including through further sanctions, caps on oil prices, as well as additional support for Ukraine and other means".
The ministers stressed that this includes the use of extraordinary revenues from frozen Russian sovereign assets.
They emphasised that "any ceasefire must be respected and underscored the need for robust and credible security arrangements to ensure that Ukraine can deter and defend against any renewed acts of aggression".
The ministers stated that they will continue to coordinate economic and humanitarian assistance to enable Ukraine's rapid recovery and reconstruction, including during the Ukraine Recovery Conference, which will be held in Rome on 10-11 July 2025.
Furthermore, the G7 officials condemned North Korea and Iran's assistance to Russia, as well as China's supply of weapons and dual-use components, which is a major contributor to the Russian war and the reconstruction of the Russian armed forces.
The statement noted that they "reiterated their intention to continue to take action against such third countries".
Background:
On Thursday 13 March, Kremlin leader Vladimir Putin responded cautiously to the US proposal for a ceasefire in Ukraine, neither rejecting it outright nor accepting it, but suggesting that Moscow might set its own conditions.
US President Donald Trump said Putin had made a promising statement but insisted it was incomplete. He also said that if Russia did not agree to a 30-day ceasefire, it would be "a very disappointing moment for the world".
On Friday 14 March, European Pravda reported, citing sources, that EU ambassadors had agreed to extend a number of EU sanctions against Russia after reaching an agreement with Hungary, which had intended to block the decision.
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