German Finance Minister Lars Klingbeil expressed hope that the G7 will issue a joint communique supporting Ukraine, despite tensions with the US over wording related to the conflict with Russia. Talks also continue on trade issues and sanctions.
German Finance Minister Lars Klingbeil said he was optimistic that the Group of Seven (G7) advanced economies would agree on a joint communique expressing support for Ukraine, despite differences with the US over the wording related to the ongoing conflict involving Russia.
Earlier reports indicated uncertainty about whether G7 finance ministers meeting in Canada could agree on language, with some US officials reportedly seeking to remove terms describing Russia’s military actions in Ukraine as “illegal.”
Speaking at a press conference in Banff, Klingbeil said, “I am very positive that we will also reach a joint communique.” He added that if no progress is made toward negotiations, further sanctions could be considered.
The EU and UK recently announced new sanctions against Russia without waiting for the US to join, following a call between US President Donald Trump and Russian President Vladimir Putin that did not lead to a ceasefire or new US sanctions. European leaders have urged the Trump administration to participate in imposing new measures if diplomatic efforts stall.
Klingbeil noted that G7 finance ministers, along with their Ukrainian counterpart, described the conflict as a “brutal war” and emphasized continued support for Ukraine.
“I am optimistic that such wording will be included in the communique, but please wait for the exact text,” Klingbeil said, deferring to the Canadian presidency managing the final statement.
On trade, Klingbeil met with US Treasury Secretary Scott Bessent and agreed to hold further talks in Washington. He said, “We have always discussed forward, how we can take steps together to find solutions.”
However, Klingbeil warned that if no agreement is reached with the US on tariffs, market turbulence could quickly return. The Trump administration currently applies tariffs of 25% on steel, aluminum, and cars, along with a baseline 10% tariff on most imports, and has threatened additional tariffs if negotiations fail.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for the 29th of January, covering the latest developments you need to know.
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