While Ukraine successfully conducted a peaceful presidential election recently, the situation in the eastern region near the Russian border remains tense, with armed groups attacking Ukrainian government forces and taking over state buildings. The G7 stated that they were prepared to increase targeted sanctions and consider more restrictive measures against Russia if necessary. German Chancellor Angela Merkel emphasized the importance of ensuring stability in Ukraine and warned of the possibility of imposing heavy sanctions if progress is not made. The United States and European Union have already implemented some sanctions in response to Russia's actions in Crimea, but further measures could be taken if the situation does not improve. However, the smooth conduct of the May 25 elections and upcoming inauguration of President Petro Poroshenko have been seen as signs of potential cooperation from Russia, reducing the immediate threat of additional sanctions. However, Wednesday's statement indicates that the West is still not convinced that President Vladimir Putin is taking sufficient measures to ease the tensions. Russia denies involvement in the uprising in eastern Ukraine, where pro-Moscow militias have taken control of buildings, attacked Ukrainian forces, and declared independence. While Putin has been excluded from the G7 summit, he will have one-on-one meetings with Merkel, Hollande, and Cameron at a D-Day anniversary event in France. The focus is on what will be discussed in these meetings rather than who Putin is meeting with. Obama has met with Ukrainian President Poroshenko to show support for the new leadership. Poroshenko has expressed willingness to hold peace talks with Putin, although no meeting has been scheduled yet. The G7 summit will also address economic, trade, climate, and energy policies, with a particular emphasis on energy security, as Europe is heavily dependent on Russian oil and gas. The leaders will stress the importance of ensuring the security of energy supplies and condemn the use of energy resources as a tool for political manipulation or security threats. The crisis in Ukraine highlights the importance of prioritizing energy security and taking significant steps to diversify energy sources. The economic discussions among G7 members, including the United States, Canada, Germany, France, Britain, Japan, and Italy, will focus on sustaining economic recovery and implementing stricter regulations to prevent future issues in the banking sector. The leaders will also reaffirm their dedication to completing financial reforms this year, including addressing the issue of "too-big-to-fail" banks.