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Cameron: G7 Countries Agree 'Vital' To Extend Russia Sanctions

U.K Prime Minister David Cameron (second left) with French President Francois Hollande (left), Canadian Prime Minister Justin Trudeau, and EC Presideent Jean-Claude Juncker at the G7 summit in Japan.

British Prime Minister David Cameron says the leaders of the Group of Seven (G7) economic powers have agreed that sanctions imposed against Russia over its actions in Ukraine must be extended next month.

"The G7 has agreed on the vital importance of sanctions rollover in June," Cameron said on May 27 after the group's two-day summit in Japan. "Ukraine is the victim of Russian-backed aggression. We must never forget that fact.”

The EU, the United States, and other countries have adopted sanctions against Russia in response to its forcible annexation of Ukraine's Crimea Peninsula in March 2014 and its support for separatists in eastern Ukraine.

In their final statement, the leaders of the United States, Canada, Britain, Italy, Germany, France, and Japan warned that they "stand ready to take further restrictive measures" against Russia if Moscow fails to meet its commitments under the Minsk agreements aimed at putting an end to the conflict in eastern Ukraine.

In response, the Kremlin said the extension of sanctions against Russia would have a negative effect on the global economy.

The Minsk deal signed in February 2015 has helped reduce fighting between government forces and separatists but sporadic clashes have continued.

The conflict has killed more than 9,300 people since April 2014.