The world's top economic powers have officially backed out of the planned G8 summit in Sochi, a result of Russia's aggressive actions in Ukraine.
"We, the leaders of Canada, France, Germany, Italy, Japan, the United Kingdom, the United States, the President of the European Council and the President of the European Commission met in The Hague to reaffirm our support for Ukraine’s sovereignty, territorial integrity and independence," the G7 leaders said in a statement issued shortly after Monday's emergency meeting.
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The statement also threatened "sanctions that will have an increasingly significant impact on the Russian economy, if Russia continues to escalate this situation."
It continued: "This group came together because of shared beliefs and shared responsibilities. Russia’s actions in recent weeks are not consistent with them. Under these circumstances, we will not participate in the planned Sochi Summit."
The move was meant to further politically isolate Russia, a senior administration official said. It is meant to be a very clear statement that what Russia has done is a violation of the principles on which the entire international system is built, the official said.
Russian Foreign Minister Sergei Lavrov doesn't appear to have been fazed by the snub. "So be it," he said shortly after meeting with US Secretary of State John Kerry and then Ukraine's interim Foreign Minister Andriy Deshchytsya. "We see no great tragedy if it (the G8) does not meet."
Of the Crimean takeover that led to the G7 pulling out of the Sochi summit, Lavrov insisted that Crimea has "a right to self-determination." The reasoning behind the takeover was not "malicious intent," he said, but meant to "protect the Russians who have been living there for hundreds of years."
Judging by Secretary of State John Kerry's expression in a State Department Flickr photo, we're guessing he's not buying Russia's reasoning.
