Russia must pay for the damage it caused to Ukraine through its illegal aggressive war, the amount of which, according to the World Bank, exceeds $486 billion, according to the text of the final declaration of the leaders of the G7 countries following the summit. Excerpts from the text of the declaration are provided by the Italian agency ANSA.

"Russia must end its illegal war of aggression and pay for the damage it has caused to Ukraine. This damage now exceeds $486 billion, according to the World Bank. It is not right for Russia – the statement continues – to decide whether or when it will pay for the damage it has caused in Ukraine because its obligations under international law to pay for the damage it is causing are clear, and therefore we are continuing to consider all possible legal avenues for Russia to meet these obligations," according to the document.

G7 leaders welcome the Ukrainian Peace Summit, scheduled to take place in Switzerland on June 15 and 16, and intend to continue working to gain the broadest possible international support for the key principles and goals of Ukrainian President Volodymyr Zelenskyy's Peace Formula.

"Our ultimate goal remains a just, lasting and comprehensive peace in accordance with international law, the UN Charter and its principles, as well as respect for the sovereignty and territorial integrity of Ukraine. We reiterate our firm support for Ukraine for as long as necessary," according to the final statement.