While the recent presidential election in Ukraine was peaceful, 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 increase targeted sanctions on Russia if necessary. German Chancellor Angela Merkel emphasized the importance of ensuring stability in Ukraine and warned of the possibility of heavier sanctions if progress is not made. Despite minor sanctions already in place, further actions will be considered if the situation does not improve. The successful election on May 25th has been seen as a positive sign, potentially reducing the need for additional sanctions. Wednesday's announcement indicates that the West is still not satisfied with President Vladimir Putin's efforts to de-escalate the situation in eastern Ukraine. Despite Russia's denial of involvement in the uprising in the region, Putin has defended his right to protect Russian-speaking individuals. While Putin has been excluded from the G7 summit, he will have private meetings with Merkel, Hollande, and Cameron at a D-Day anniversary event in France. The focus of the summit will include discussions on economics, trade, climate, and energy policy, with a particular emphasis on energy security in Europe. European leaders are committed to reducing their dependence on Russian energy sources, but this transition will take time and be costly. The G7 leaders are expected to release a statement highlighting the importance of ensuring the security of energy supplies and condemning the use of energy as a tool for political coercion. The situation in Ukraine highlights the importance of prioritizing energy security and taking significant steps to diversify energy sources. The economic talks among G7 members - United States, Canada, Germany, France, Britain, Japan, and Italy - will focus on sustaining economic growth and implementing stricter regulations to prevent future banking crises. The leaders will also reaffirm their dedication to completing financial reforms, including addressing issues related to "too-big-to-fail" banks.