Ukraine hopes for G7 summit to adopt decisions to lower Russian oil price ceiling – Sybiha

Ukraine hopes that G7 leaders will make a decision at the summit in Canada to reduce the maximum price of Russian oil to $30 per barrel, Foreign Minister Andriy Sybiha said.

At a press conference with his Lithuanian counterpart Kestutis Budrys in Kyiv on Monday, Sybiha noted that in the issue of bailout pressure on the Russian Federation, one of the "most painful decisions" for the Russian side is lowering the oil price ceiling.

"Our position, and this is fair, is that we should be talking about $30 per barrel. We have communicated our vision to our partners, and this really should be a decision at the level, or in the G7 format. Our expectations - yes, we very much hope that decisions in this direction, during the planned G7 decision in Canada, will be made and, accordingly, formalized," he said.

Sybiha noted that one of the key factors that can force Russia to a fair peace is the further strengthening of sanctions. According to him, "there are still enough areas and industries where we can increase the sanctions pressure, and it should become destructive for the Russian economy."

In addition, the factor that can force Russia to a fair peace is frozen assets.

"More will and more determination are needed here. And this is also probably one of the decisions that should be expected from the format of the meeting at the level of G7 leaders," Sybiha emphasized.

In addition, he noted that further isolation of Russia is necessary.

"It is impossible to legitimize or allow Russia's return to the international arena without achieving a just peace," the minister said.

The second factor that needs to be used to put pressure on Russia is the strengthening of Ukraine, the strengthening of Ukrainian defense capabilities, the army, Sybiha emphasized.

The G7 summit will take place in Kananaskis, Canada, from June 15 to June 17. This is the seventh time that Canada has chaired the G7 in the 50 years since the bloc was created.

Ukrainian President Volodymyr Zelenskyy confirmed that he has an invitation to the summit.