Today I have spoken with the leaders of the G7 and with President Zelenskiy about our strong unity and our commitment to continue to strengthen Ukraine and to increase the pain for Putin.”
Joe Biden, President of the United States.
The Group of Seven, better known as the G-7 (made up of Germany, Canada, the United States, France, Italy, Japan and the United Kingdom), has pledged to ban or phase out imports of Russian oil.
“This will deal a serious blow to the main artery of Russian President Vladimir Putin’s economy and will deny him the revenue needed to finance his war,” the group said in a statement.
The G-7 said it will ensure a stable and sustainable energy supply at affordable prices for consumers by reducing their dependence on fossil fuels and starting a clean energy transition in line with climate goals.
They will also take steps to prevent the provision of key services on which Russia depends, and this, they say, will reinforce Russia’s isolation in all sectors of its economy.
In addition, they warned that they will continue to sanction Russian banks connected to the world economy and systemically critical of the Russian financial system. “We have already severely damaged Russia’s ability to finance its war by attacking its central bank and major financial institutions.”
Likewise, they will continue their efforts to combat the attempts of the Russian regime to spread its program where private companies should not provide income to the regime and its affiliates that feed the war machine.
They will raise sanctions on Russian financial elites and members of the Putin family who support him in his war effort.
US sanctions Russian media
The United States also announced new sanctions, which affect the media and the access of Russian companies and large fortunes to consulting and accounting services, both American and British, which are the great world specialists.
By blacklisting Channel One Russia, the Russia-1 television station and the NTV Broadcasting Company, Washington prohibits any US company from funding them through advertising or selling them equipment.
“No US company should be involved in financing Russian propaganda,” an anonymous senior White House official told AFP.
Likewise, it prohibited auditing, management, consulting, marketing services and all those used to operate multinational companies, but also to evade sanctions or hide evil acquired riches,” the source said.
Finally, the Biden administration also imposed visa restrictions on 2,600 Russians and Belarusians, and sanctions against officials at the Sberbank and Gazprombank banks.