G7 is exploring measures against countries and organisations financing Russia's war

G7 foreign ministers have announced that they are considering new measures to pressure countries helping Russia finance its military.

The ministers reaffirmed their unwavering support for Ukraine in defending its territorial integrity, sovereignty, independence and right to exist freely.

"We reiterated that an immediate ceasefire is urgently needed. We agreed that the current line of contact should be the starting point of negotiations. We remain committed to the principle that international borders must not be changed by force," the statement following G7 foreign ministers' meeting in Canada reads.

"We are increasing the economic costs to Russia, and exploring measures against countries and entities that are helping finance Russia's war efforts," the ministers added.

They also condemned military assistance to Russia from North Korea and Iran, as well as the supply of weapons and dual-use components from China, which they described as a key enabler of Russia's war.

"We acknowledged the ongoing discussions on a wide range of financing options, including further leveraging immobilised Russian Sovereign Assets in our jurisdictions in a coordinated way to support Ukraine," they said.

Additionally, the ministers condemned Russia's recent direct attacks on Ukraine's energy infrastructure and reaffirmed their commitment to strengthening Ukraine's energy security.

As per Ukraine's request, Ukrainian Foreign Minister Andrii Sybiha met with his counterparts from Italy, Germany, France and the EU's top diplomat on the sidelines of the G7 meeting.

Earlier, Sybiha also held talks with US Secretary of State Marco Rubio.