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G7 warns Russia of more sanctions if Ukraine crisis escalates

Published on Mar 25, 2014 5:11 AM
 
(Clockwise from left) European Council president Herman Van Rompuy, Canadian Prime Minister Stephen Harper, French President Francois Hollande, British Prime Minister David Cameron, US President Barack Obama, German Chancellor Angela Merkel, Japanese Prime Minister Shinzo Abe, Italian Prime Minister Matteo Renzi and European Commission president Jose Manuel Barroso attend a G7 summit at the official residence of the Dutch prime minister in The Hague on March 24, 2014 on the sidelines of the Nuclear Security Summit (NSS). -- PHOTO: AFP

THE HAGUE/FEODOSIA (REUTERS) - US President Barack Obama and major industrialised allies warned Russia on Monday it faced damaging economic sanctions if President Vladimir Putin takes further action to destabilise Ukraine following the seizure of Crimea.

Leaders of the Group of Seven, meeting without Russia, agreed to hold their own summit this year instead of attending a planned G8 meeting in the Russian Olympic venue of Sochi, along the Black Sea coast from Crimea, and to suspend their participation in the G8 until Russia changes course.

On a day when Kiev ordered its remaining troops to withdraw from Crimea and Russian forces used force to capture a marine base and a landing ship, leaders of the United States, Germany, France, Britain, Italy, Japan and Canada condemned what they called "Russia's illegal attempt to annex Crimea in contravention of international law".

They also agreed to work together to reduce their dependence on Russian oil and gas.

 
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