White House releases list of new G7 sanctions against Russia

The US President Joe Biden administration shared the statement. 

An agreement was reached at the G7 summit on June 26-28 in Germany.

"Our measures will continue to sap Putin’s military-industrial complex of critical components, prevent the central bank’s foreign reserves from propping up an ailing economy and deprive Putin of the resources he needs to wage his war, and hold the kleptocracy to account for its ill-gotten gains. The effectiveness of our measures will only compound over time to further isolate Russia from the world economy," the White House stated.

Among other things, the G7 countries plan to take new measures against Russian military production and supply chains. Further restrict Russia's access to key industrial resources, services and technologies, including those that support Russia's military-industrial base and technology sector. Expand sanctions on hundreds of Russian individuals and companies.

Tariffs will also be increased on more than 570 groups of goods from Russia worth about USD 2.3 billion and, as previously announced, reduce Russia's revenues from the sale of gold.