G7 leaders agree to ramp up sanctions on Russia

The world’s richest democracies have agreed to step up sanctions on Russia and pledged financial support for Ukraine during a summit in the Japanese city of Hiroshima, news agencies reported on Friday.

G7 summit in Hiroshima: US President Joe Biden, Germany’s Olaf Scholz, Britain’s Rishi Sunak, European Commission President Ursula von der Leyen, European Council head Charles Michel, Italy’s Giorgia Meloni, Canada’s Justin Trudeau, France’s Emmanuel Macron, and Japan’s Prime Minister Fumio Kishida.Photo: EPA/JAPAN via PAP

The Group of Seven (G7) nations said in a joint statement that existing measures against Russia would be broadened and that any exports that could help Moscow in its war against Ukraine would be restricted, the Reuters news agency reported.

„This includes exports of industrial machinery, tools, and other technology that Russia uses to rebuild its war machine,” the statement said, as quoted by Reuters.

The statement added that efforts would continue to restrict Russian revenues from its trade in metals and diamonds, Reuters reported.

The G7 leaders meeting in Hiroshima, including US President Joe Biden, also said the group was „engaging” with countries through which any restricted goods, services or technology could transit through to Russia, according to Reuters.

„We note and encourage commitments made by these countries to ensure our measures are not circumvented and have the intended effect,” the G7 leaders said in their statement.

The group reaffirmed its condemnation of Russia’s war in Ukraine and promised further military and financial support for Ukraine, Polish state news agency PAP reported.

The G7 group is made up of the United States, Japan, Germany, Britain, France, Canada and Italy. Their Hiroshima summit runs until Sunday.

Russia invaded Ukraine on February 24, 2022, launching the largest military campaign in Europe since World War II.

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Source: Reuters, PAP