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G7 tightens export sanctions against Russia ``All important items'' - Leaders' statement

G7 tightens export sanctions against Russia ``All important items'' - Leaders' statement
A signboard for the summit welcoming the leaders of the seven advanced countries (G7) = Hiroshima City on the 16th (AFP)

WASHINGTON (Webdesk)  -- The G7 Hiroshima Summit announced in a statement that it would extend export restrictions to Russia, which launched the war on Ukraine, to include "all items important to aggression." The aim is to prevent sanctions evasion by using third countries such as China and India as loopholes. Ahead of Ukrainian President Volodymyr Zelensky's appearance at the summit, the entire G7 announced more than 600 additional sanctions, demonstrating unwavering solidarity.

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Until now, sanctions against Russia have mainly targeted the defense industry, high-tech, energy, trade, and finance, but they will also include manufacturing, construction, and transportation, including manufacturers of daily necessities, and monitor support for Russia by third countries. "Aid to Russia comes at a serious price," the statement warned. He also urged cooperation from emerging and developing countries in the "Global South," which have distanced themselves from sanctions.

The United States, which leads the sanctions, is considering a total ban on exports to Russia. The Treasury and State Departments have announced additional sanctions on more than 320 individuals and entities in more than 20 countries, including China and India. The Department of Commerce effectively banned exports of US products to 71 companies. It includes consumer goods such as clothes dryers that use semiconductors that can be used for military purposes, as well as Iranian shipping companies involved in illegal shipping.

The leaders' statement also stepped in to restrict trade in diamonds and civil nuclear products. Britain announces plan to ban Russian diamonds The United States and Britain will impose sanctions on companies affiliated with Russia's state-owned Rosatom, one of the world's leading nuclear power companies. In addition, Japan plans to impose about 100 sanctions against Russia, Britain more than 80, and Canada more than 70.



https://www.dmtn1.com/2023/05/g7-tightens-export-sanctions-against.html

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