G7 countries impose new sanctions on Russia
Created: 05/08/2022, 18:09
New sanctions against Russia were approved at a G7 conference.
© Thibault Camus/AP/dpa
Before the "Victory Day" in Moscow, the USA and the other G7 countries want to drive Putin to the parade.
They are tightening the sanctions against Russia - also in the important energy sector.
Washington - Ahead of the "Victory Day" celebrations in Moscow, the G7 countries are imposing new sanctions on Russia over the war of aggression against Ukraine.
This was announced by the White House in Washington on Sunday.
The heads of government of the G7 countries had previously spoken to Ukrainian President Volodymyr Zelenskyy in a switching conference.
According to the US government, the punitive measures are aimed, among other things, at the Russian energy sector, which is important for financing the war.
The group of seven leading democratic industrial nations includes the NATO states USA, Canada, France, Great Britain, Italy and Germany as well as Japan.
Commitment to oil embargo
The White House announced that all G7 countries committed on Sunday to phase out or ban imports of Russian oil - the USA itself has already imposed a corresponding import ban.
In Brussels, the EU countries are also negotiating an oil embargo against Russia and other punitive measures.
Recently there was still a dispute about exceptions to the import ban for countries such as Hungary, the Czech Republic, Slovakia and Bulgaria.
Discussions on this are expected to continue next week.
A US official also announced a ban on providing business services to companies or individuals in Russia.
Services in the areas of accounting, management, consulting or marketing are affected.
The US would also impose sanctions on three of the main television channels directly or indirectly controlled by President Vladimir Putin's government: Pervy Kanal.
Rossiya-1 and NTV.
Advertising orders from the USA should not be placed with these “Kremlin mouthpieces”, nor should US technology be supplied for broadcasting.
The US official said the US would further tighten its export controls to weaken Russia's war effort.
Wood products, industrial engines and clearing vehicles are affected.
In addition, sanctions would be imposed on managers of the largest and third largest Russian banks, Sberbank and Gazprombank.
"The message is that if Putin's invasion continues, there will be no safe haven for the Russian economy."
Sanctions hit Russia
The White House said: "Our unprecedented sanctions are already taking an immense toll on Russia's economy." The export controls would cut Russia off from important technology.
"Putin's war is likely to wipe out the economic gains of the last 15 years in Russia." Two important Russian tank factories had stopped working because they lacked foreign components.
Almost 1000 companies left Russia.
"Putin did not achieve his original military goal of dominating Ukraine - but he managed to make Russia a global pariah."
more on the subject
Government: Russia steals grain from Ukraine
US ministers announce further military aid in Kyiv
What an EU oil embargo on Russia would mean
Because of the Russian war of aggression, western countries have already imposed tough sanctions on Russia.
Germany currently holds the G7 presidency and is hosting the group's next summit in Bavaria at the end of June.