"We will stand with Ukraine for as long as it takes, providing the needed financial, humanitarian, military, and diplomatic support in its courageous defense of its sovereignty and territorial integrity. We are ready to reach arrangements together with interested countries and institutions and Ukraine on sustained security commitments to help Ukraine defend itself and to secure its free and democratic future," the leaders said in a joint statement.
The G7 leaders have also called on China to put pressure on Russia so that it stopped hostilities in Ukraine. This comes shortly after Russian presidential spokesman Dmitry Peskov said that Kiev could put an end to the hostilities within a day by ordering the troops to lay down their arms and by complying with the conditions of Moscow.
The G7 leaders also agreed to take urgent measures to ensure energy supplies and curb price increases.
"We will take immediate action to secure energy supply and reduce price surges driven by extraordinary market conditions, including by exploring additional measures such as price caps. We reaffirm our commitment to phase out our dependency on Russian energy, without compromising on our climate and environmental goals," the leaders said in a joint statement.
Meanwhile, the European Commission said that is has been developing the framework for placing a price cap on gas supplies and will present it in due time.
"[The G7] leaders are preoccupied by the situation ... regarding gas, we have been invited to look at the introduction of a possible price cap, we are doing this, we are exploring this, and we will come forward with our thoughts or our proposals on this as our work on this matures and we get to a conclusion, which we are going to share with the leaders. But we are not going to speculate at this any further," EU Commission Deputy Chief Spokeswoman Dana Spinant said.
"[The G7] leaders are preoccupied by the situation ... regarding gas, we have been invited to look at the introduction of a possible price cap, we are doing this, we are exploring this, and we will come forward with our thoughts or our proposals on this as our work on this matures and we get to a conclusion, which we are going to share with the leaders. But we are not going to speculate at this any further," EU Commission Deputy Chief Spokeswoman Dana Spinant said.