Ahead of the Group of Seven summit in Hiroshima, Japan, G7 leaders will announce a list of new sanctions against Russia to increase pressure to end the war in Ukraine.
Ukrainian President Volodymyr Zelensky will also attend the three-day summit to stress how the imposition of new sanctions could affect Russia’s war effort.
EU Council President Charles Michel said the EU plans to ensure tougher sanctions on Russia, which has already become the country with the most sanctions.
According to Michel, the EU has insisted: “Close the door on silence and continue to cut off Russia from vital supplies.” It also plans to ban imports of $4 billion worth of diamonds from Russia every year, he added.
Last year, Britain and the US banned $15.4 billion worth of gold exports in 2021, JEE News reported. Moreover, the report also states that Western countries, including the UK, US, Canada and the European Union, have also frozen the assets of Russia’s central bank.
Britain on Friday froze the assets of 86 people and companies linked to Rosatom, the Russian corporation that specializes in nuclear energy equipment, and imposed new restrictions on Russian money-making sources, JEE News reported. have been imposed.
“The assets will remain frozen until “Russia agrees to pay for the damage it caused in Ukraine,” said Britain’s Commonwealth and Development Office. acted to limit Russia’s efforts.”
On Friday, the State Department announced new sanctions on more than 200 entities, individuals, ships and aircraft, targeting Russia’s energy, military, technology, and metals and mining sectors. They also focused on institutions and people involved in the illegal deportation of Ukrainian children and confiscation of Ukrainian grain.
Since Putin’s forces opened fire on Ukraine, the European Union has successfully imposed 10 rounds of sanctions on Russia that have hit banks, companies and the energy sector while also freezing the assets of more than 1,000 officials. have been given, on which the travel ban is also imposed.
Japan imposed sanctions in February, freezing assets of Russians and Russian companies and suspending visas for some. It froze the assets of some financial institutions and banned exports of items that could be used for military purposes, dual-use items, certain commodities and semiconductors.
JEE News defines sanctions as restrictions imposed by another country on the activities of a particular country to prevent it from acting against or breaking international law. These are the most drastic measures taken by nations in a state of conflict and can be imposed at very short notice.
As a result of the alliance between Western countries and Japan at the G7 summit, tough sanctions were imposed on Russia. The sanctions are seen as a collective effort by G7 leaders to pressure Russia against the war in Ukraine.
As a result, Russia has banned more than 200 goods from Western countries, including telecom, medical, automotive, agricultural, electrical appliances and wood products.
