G7 PLANS TO IMPOSE NEW SANCTIONS ON RUSSIA

The new measures, which will be announced by G7 leaders within the framework of the May 19-21 summit, will target Russia's energy and export sectors.

G7 PLANS TO IMPOSE NEW SANCTIONS ON RUSSIA

The new measures, which will be announced by G7 leaders within the framework of the May 19-21 summit, will target Russia's energy and export sectors.

The group of the world's leading industrialized countries (G7) is planning to tighten sanctions on Russia at the G7 Summit taking place in Japan this week, which is expected to target the economic sector. Energy and export sectors related to Russia's special military operation in Ukraine.

According to sources familiar with the matter, the new measures will be announced by G7 leaders within the framework of the May 19-21 Summit, which aims to evade relevant sanctions to third countries, and seek to undermine Russia's future energy production and limit commercial activities related to Russia's special military operation in Ukraine.

Meanwhile, US officials also hope G7 member countries will agree to adjust their approach to sanctions so that all exports will be automatically banned except for those on the list approved books.

The administration of US President Joe Biden has previously pushed the G7 allies to reverse the group's approach to sanctions that now allow the sale of all goods to Russia except for certain goods apparently put on the "black list."

Washington thinks this change could make it more difficult for Russia to find holes in the sanctions mechanism.

However, while allies have not yet agreed to this approach, US officials hope that certain areas related to Russia's defense industry will be subject to sanctions. But these areas are still being discussed.

The final decision is expected to be made in a joint statement by the G7 leaders, which remains to be negotiated and adjusted before being announced at the Summit in Japan.

The G7 includes the US, Japan, Canada, France, Germany, Italy and the UK.

Earlier, on April 23, Deputy Chairman of the Security Council of the Russian Federation Dmitry Medvedev said that Moscow would respond in proportion if the G7 imposed a ban on exporting goods to Russia.

He also left open the possibility of Russia ending the Black Sea Grains Initiative agreement.