War in Ukraine: The G7 Promises New Sanctions Against Moscow

In Hiroshima, the Western powers undertake to tighten the restrictions which hit the Russian economy, in particular the entities which supply the military apparatus.

The G7 is not done with sanctions against Russia. Gathered at a summit in Hiroshima (Japan), the leaders of the G7 on Friday acted on new sanctions to “deprive Russia of the technologies, industrial equipment and services of the G7 which support its war enterprise”.

Concretely, these new measures consist of restrictions on the export of goods “essential for Russia on the battlefield”, and on Russian companies which transport equipment to the front.

“We reaffirmed our commitment to stand together against Russia’s illegal, unjustifiable and unprovoked war of aggression against Ukraine”, announced the heads of state present at the summit. The G7 also pledged to “restrict the trade and use of diamonds mined, processed or produced in Russia“, in particular by using tracking technologies.

Zelensky expected in Japan

Ukrainian President Volodymyr Zelensky, who has just completed a tour of several European countries, is also expected in person in Hiroshima for this summit scheduled until Sunday. His presence was initially planned by videoconference.

These new sanctions come days after the United States, the United Kingdom and the European Union again evoked a tightening of their restrictions against Moscow, more than a year after the invasion of Ukraine by Russia of Vladimir Poutine. On May 8, the European Commission announced an eleventh package of restrictive measures against Russia intended to avoid the circumvention of European sanctions.

Russian diamonds targeted by London

The United States also planned this Friday to “significantly restrict Russia’s access to products necessary for its combat capabilities”. The United Kingdom followed suit by announcing new measures targeting the Russian mining sector, including diamonds, which provide billions of dollars to Moscow each year.

In retaliation, Russia is trying to retaliate against this wave of sanctions. On April 26, the Kremlin had launched the seizure of assets of Western companies in retaliation. This measure concerned the German energy company Uniper and the Finnish electrician Fortum. The two companies based in Russia for more than 60 years represented there before the war in Ukraine nearly 7,000 employees on its territory, and operated 12 gas-fired power stations. The Kremlin has also claimed that the list of companies hit by foreclosures in Russia could grow even longer.

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War in Ukraine: The G7 Promises New Sanctions Against Moscow - /10

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In Hiroshima, the Western powers undertake to tighten the restrictions which hit the Russian economy, in particular the entities which supply the military apparatus.

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