Although Ukraine successfully conducted a peaceful presidential election recently, the situation in the eastern region near the Russian border remains unstable, with armed groups attacking Ukrainian government forces and taking control of state buildings. The G7 stated that they are prepared to escalate targeted sanctions and consider additional restrictive measures against Russia if necessary. German Chancellor Angela Merkel emphasized the need for Russia to stabilize the situation, warning that further destabilization in Ukraine could result in heavier sanctions. Despite minor sanctions already in place, more severe measures could be implemented if the situation worsens. The successful election on May 25th, however, has eased tensions and some believe that Russia may be more willing to cooperate, reducing the threat of further sanctions. However, the statement released on Wednesday indicates that the West is still not convinced that President Vladimir Putin is taking sufficient action to de-escalate the situation. Russia has denied any involvement in the uprising in eastern Ukraine, where pro-Moscow militias have seized buildings, attacked Ukrainian forces, and declared independence. Despite being excluded from the G7 summit for the first time since 1997, Putin will have meetings with German Chancellor Angela Merkel, French President Francois Hollande, and British Prime Minister David Cameron during a D-Day anniversary event in France. The focus of these meetings is not who Putin meets with, but rather the discussions that take place. President Barack Obama, who has avoided contact with Putin, is not concerned about these meetings. The G7 summit will also address economic, trade, climate, and energy policies, with a particular emphasis on energy security in Europe. The leaders will emphasize the importance of prioritizing the security of energy supplies and condemn the use of energy as a tool of political coercion. The situation in Ukraine highlights the importance of prioritizing energy security and calls for a significant shift in our strategy to diversify energy sources. The economic talks among G7 countries are not anticipated to introduce new ideas, but rather emphasize the need for all members to concentrate on maintaining economic growth and implementing stricter regulations to avoid potential issues in the banking sector. The leaders will also confirm their dedication to finishing financial reforms this year, including putting an end to "too-big-to-fail" banks.