G7 leaders meet amid missile strikes in Kyiv

STORY: As Russian missiles exploded in Ukraine’s capital Sunday, leaders from the G7 – the Group of Seven rich democracies - gathered for a summit in Germany.

U.S. President Joe Biden condemned the Kyiv strike.

“Just more of this barbarism.”

As Europe's biggest land conflict since World War Two enters its fifth month, the Western alliance supporting Kyiv has been starting to show signs of strain, with leaders fretting about the growing economic cost.

British Prime Minister Boris Johnson urged the West to stay united.

“You know, this is something that is worth us standing up for together. And that is the principle that a free, independent, sovereign country like Ukraine should not be violently invaded and should not have its boundaries changed by force.”

At the start of the meeting, four of the nations moved to ban imports of Russian gold to tighten the sanctions squeeze on Moscow.

In the wake of the conflict in Ukraine, which began on Feb. 24, global energy and food prices have soared.

These issues were also top of mind, said German Chancellor Olaf Scholz.

All members are concerned about the crisis of falling growth rates in some countries, rising inflation, raw materials shortages and disrupted supply changes. These aren’t small challenges, he said.

G7 leaders also relaunched an initiative to finance needed infrastructure in developing countries.

U.S. PRESIDENT JOE BIDEN: "Today, we officially launched the Partnership for Global Infrastructure and Investment. We collectively have dozens of projects already underway around the globe, and I'm proud to announce the United States have mobilized 200 billion dollars in public and private capital over the next five years for that partnership."

Over five years, the group pledged $600 billion in private and public funds for the initiative.

The move was aimed at countering China’s older, multitrillion-dollar Belt and Road project.