Overview

• G7 finance leaders are meeting in Banff, Canada, with Ukraine's finance minister Sergii Marchenko as a special guest to discuss sanctions on Russia and economic unity.
• The summit is marked by tensions over U.S. tariffs imposed by President Trump in April, which have partially been rolled back but remain a source of division.
• Canada, as host, is emphasizing the need to restore global economic stability and growth while urging a collective stance on Ukraine and sanctions against Russia.
• U.S. Treasury Secretary Scott Bessent is seen as a key interlocutor, with G7 members pressing him to advocate for reversing tariffs and endorsing stronger sanctions on Russia.
• European G7 members prioritize unequivocal support for Ukraine, seeking a strong final statement to counter U.S. rapprochement with Moscow.