The World Bank estimates the total damage inflicted on Ukraine in the war already exceeds $486 billion.
“Russia does not have the right to decide if and when it will pay for the damage inflicted on Ukraine,” the draft statement reads.
G7 countries emphasize that under international law, Moscow’s obligation to pay for the damage it has caused is clear.
"We continue to explore all possible legal avenues to ensure that Russia fulfills these obligations," the document adds.
Previously, G7 nations agreed on a plan to finance further aid to Ukraine through a $50 billion loan, secured against Russia’s sovereign assets frozen in Western countries.
On June 13, at the sidelines of the summit in Italy, Ukraine signed bilateral security agreements with the United States and Japan.