Saturday, June 3, 2023

US, UK and G7 agree on new sanctions package against Russia

The United Kingdom announced new sanctions against the Russian mineral sector this Friday, banning imports of aluminium, diamonds, copper and nickel. Suppressed Moscow’s ability to finance the war in Ukraine.

“As evidenced by the sanctions announced today, The G7 stands united in the face of the threat from Russia and stands firm in our support for Ukraine”, announced British Prime Minister Rishi Sunak during the G7 summit in Hiroshima, Japan, which will also be attended by Ukrainian President Volodymyr Zelensky in the coming hours.

Begin a set of new sanctions against Russia, including US measures that would put another 70 Russian and foreign entities on a trade blacklist, according to a senior White House official.

In addition, it will implement 300 sanctions against various and diverse targets, “persons, organizations, ships and aircraft” in Europe, the Middle East and Asia. All G7 member states, whose leaders are meeting for a summit in Hiroshima, Japan, are preparing new measures with contributions from the United States. A “coherent” package of sanctions that “will make it even more difficult for Russia to fuel its war machine” He confirmed with the press services arranged in place.

US measures aimed at “Significantly restrict Russia’s access to products essential to its combat capabilities” a senior US official said.

Since the invasion of Ukraine in February 2022, Western countries have imposed an unprecedented series of sanctions against Russia to economically impact that country. reducing the revenue generated by hydrocarbons and disrupting its defense industry, Their concern now is preventing Russia from evading sanctions, and the latest US moves are aimed at making that less likely to happen.

The senior White House official said the United States wanted to influence “(the Russian) financial sector and Russian energy production capacity in the medium and long term.” It is also about “maintaining the freeze on Russian sovereign assets”. The Russian diamond trade, which is also included in the sanctions package, is worth $4-5 billion a year, and is a major source of taxes for the Kremlin.

Nation World News Desk
Nation World News Desk
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