A senior US official told reporters that G-7 leaders would announce new sanctions against Russia on Friday, the first day of their summit in Hiroshima, and sanctions on the group’s exports to that country.
That source did not detail specific actions to be taken by each member of the G7 (Canada, France, Japan, Germany, Italy, the United Kingdom and the United States), but did reveal plans for the Joe Biden administration.
Specifically, the United States Department of Commerce will put 70 entities from Russia and other countries on a “blacklist” from receiving US exports.
In addition, the US executive order will impose 300 new sanctions against individuals, entities, ships and aircraft that are helping Russia evade sanctions imposed by the West for its war in Ukraine or that contribute to the financing of the conflict, e.g. Energy resources through procurement for…
The above official explained that the scope of these new US sanctions will be global with those affected in Europe, the Middle East and Asia.
In addition to the US actions, the European Union (EU) is looking to discuss with G7 members the possibility of imposing sanctions on the Russian diamond sector, as Russia is one of the largest exporters and producers of rough diamonds worldwide.
So far, three G7 members (the US, Canada and the UK) have imposed sanctions on Russian entity Alrosa, the world’s biggest diamond producer and a key source of revenue for the Kremlin because it is partly owned by the Russian state.
However, these sanctions have hardly hurt Alrosa, as they only affect diamonds that have been processed in Russia, while those exported in the rough and modified to other countries are not subject to sanctions. Which is the largest Russian diamond.
Representatives of the United States and the European Union have already met in Washington in March to explore ways to reform this sanctions regime and prevent Russia from using them to finance the war.
The G7 leaders’ summit begins this Friday with several working sessions, including one devoted to the war in Ukraine and which Ukrainian President Volodymyr Zelensky is expected to make an intervention.
Japanese Prime Minister Fumio Kishida, the host of the summit, invited Zelenki to participate virtually; But so far it is unknown whether the Ukrainian leader will intervene remotely or if he will do it in person, an aspect the aforementioned US official declined to clarify.
Beyond sanctions and sanctions on exports, G7 leaders also plan to issue a joint communique expressing the West’s “unity, strength and commitment” to Ukraine and strongly condemning Russia’s invasion of Ukraine, which Started in February last year.
