The G7 efforts are aimed at depriving Russia of the opportunity to obtain the materials it needs for war.
The US and other G7 members will announce new sanctions and export controls on Russia. This was announced on Tuesday, May 18, by the press service of the White House.
A statement from the administration of the American president states that Washington’s commitment to “further tighten the screws on Russia remains as firm as last year.”
The White House has promised to show:
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“First, some significant efforts to further undermine Russia’s ability to obtain resources for its war.
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Second, you’ll see attempts to close loopholes.
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Third, you will see additional measures to reduce Russia’s energy dependence.
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Fourth, you will see ongoing efforts to restrict Russia’s access to the international financial system.
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And fifth, you will see a continuing obligation to keep Russia’s sovereign possessions immobilized until the end of the war.”
The statement also says that all G7 members are preparing for the introduction of new sanctions and export controls.
“I will not go into the details of what the partners are doing, but the United States will expand its own significant package. So, the bottom line is this: we are increasing the economic pressure on Russia,” the service said of the press.
The American side intends to continue expanding export controls to make it more difficult for the Russian Federation to maintain its military machine.
“This includes, among other things, the widespread restriction of categories of goods of primary importance on the battlefield, as well as cutting off about 70 organizations from Russia and third countries from receiving of exports from the United States by adding them to a commerce blacklist,” the White House said. .
In addition, more than 300 new sanctions will be announced against individuals and entities, ships and aircraft, which will be “directed against financial intermediaries, as well as the future energy and mining capacities of Russia and other participants helping to support the war.”
These include assignments in Europe, the Middle East and Asia, the press office added.
The United States also intends to extend sanctions powers to additional sectors of the Russian economy that are key to its military-industrial complex, and new restrictions will be introduced so that the Russian Federation “cannot use our services.”
Notably, the coordinator of the White House National Security Council, John Kirby, said that the participants in the G7 leaders’ summit, which will be held this week in Japan, will take concrete steps to increase Russia’s isolation.
As reported, representatives of EU member states, who will meet on May 12 on the 11th package of sanctions against Russia, could not make a decision.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.