G7 leaders have warned Russia

Over the Ukraine border buildup, G7 leaders have warned Russia that all measures are on the table.

In the case of an invasion, the Kremlin would face “huge consequences,” warns UK Foreign Secretary Boris Johnson at discussions in Liverpool.

Foreign ministers from the G7 group of wealthy countries have warned Russia that invading Ukraine would have “huge consequences” and urged it to scale back its military buildup along its border.

The group reaffirmed its “unwavering commitment to Ukraine’s sovereignty and territorial integrity, as well as the right of any sovereign state to determine its own destiny,” according to a communique from the Liverpool conference, and applauded Ukraine’s “restraint” as tensions rise.

“Under international law, any use of force to modify borders is completely illegal.” After a weekend meeting dominated by discussion of Russia’s movement of weaponry and personnel to the border region, the statement concluded, “Russia should be in no doubt that further military aggression against Ukraine will have tremendous consequences and severe cost in return.”

Liz Truss, the UK foreign minister, said all types of economic sanctions against Russia were on the table if it invaded Ukraine, and she hinted she could be willing to revisit the UK’s anti-money laundering regulations, which some perceive as a vehicle for Russian elites to hide their money.

She claimed that an invasion would come at a “high price” for Russia. Dmitry Peskov, a Kremlin spokesman, told Russian media on Sunday that Russia was being blamed for sending soldiers within its borders, and that Vladimir Putin assured Joe Biden in a video conversation last week that Russian troops posed no threat to anyone.

Access to global finance markets could be restricted, and new restrictions for backing Russian government debt could be imposed. Cancelling Russia’s Nord Stream 2 gas pipeline to Germany is also on the table, but in the case of an invasion, Germany is likely to make that decision without any pressure from the G7.

While Germany’s new coalition government is split on the pipeline’s long-term future — with chancellor Olaf Scholz’s Social Democrats in favor and foreign minister Annalena Baerbock’s Greens against – the pipeline is expected to be blocked forever if Ukraine’s borders are crossed.

Although all foreign ministers at the G7 – which represents half of global GDP – agreed that the strongest possible signal to Putin not to invade Ukraine was needed, there were differences of opinion on the appropriate type of sanctions to use and if G7 domestic legislation should be reconsidered.

When asked if she was willing to conduct a review of anti-corruption laws in the light of complaints that London has operated as a shelter for kleptocrats, Truss said the UK was reviewing all alternatives.

“We have very strong anti-corruption and money laundering laws in the UK, but let us be clear: when the UK has wanted to send clear messages and achieve clear goals, we have been prepared to use economic sanctions,” she said. “We are considering all options, and we have been very clear with our allies, including the US and our G7 partners, that there would be severe consequences.”

It was unclear how far Truss planned to go based on her reference to “all alternatives.”

On Monday, EU foreign ministers in Brussels are expected to announce the start of a procedure to impose sanctions on the Wagner Group, a Russian private military contractor. Wagner is not affiliated to the Russian state, but Moscow has warned the EU that any penalties imposed on its citizens will be met with retribution.

France is pushing for the action because it is concerned about the magnitude of the Wagner Group’s participation in Africa’s Sahel region.

Russia could be plotting an invasion on Ukraine involving up to 175,000 troops as early as next year, according to US intelligence. Moscow has rejected any intention of invading and has requested assurances that Nato will not expand further east or station weapons near to Russian territory.

Russia annexed the Black Sea peninsula of Crimea from Ukraine in 2014, provoking Western sanctions.

Truss stated that Iran had one last chance to comply with the 2015 nuclear deal. Foreign leaders in Liverpool shared notes on whether they thought Iran was serious about reaching an agreement in Vienna, or if it was just biding its time.

Over the weekend, negotiators from Europe, Russia, China, the United States, and Iran stayed in Vienna to work on a possible document that would see the United States waive sanctions against Iran, allowing Tehran to rejoin the nuclear deal.

Truss stated, “This is Iran’s last chance to come to the negotiating table with a real settlement to this issue, which has to include agreeing to the provisions of the JCPOA [joint comprehensive plan of action].” “This is their last chance, and they must seize it.” Iran will not be able to obtain a nuclear weapon.”

According to European diplomats, Iran’s actions cannot be interpreted as a genuine attempt to reach an agreement.

If discussions do not move at the pace demanded by the US and Europe, a conference of world leaders is likely to be convened to decide whether to submit Iranian non-compliance with the 2015 nuclear deal to an emergency board meeting of the UN’s nuclear inspectorate. That would be the start of the deal’s eventual collapse.

Diplomats highlighted, however, that some progress had been made over the past three days since Iran was no longer insisting on talks centered on texts prepared by the newly elected leadership.

The G7 members spent the evening at the Beatles Museum, which features a Cavern club mockup inside, and lunch at Anfield, the home of Liverpool football team, with representatives of the Association of Southeast Asian Nations.