Russia will be increasingly isolated economically by G7 leaders

Russia will be increasingly isolated economically by G7 leaders

“(W)e will continue and elevate our campaign against the financial elites and family members, who support President Putin in his war effort and squander the resources of the Russian people,” the statement added. The United States on Sunday unveiled sanctions against three Russian television stations, banned Americans from providing accounting and consulting services to Russians, and sanctioned executives from Gazprombank to punish Moscow for its invasion of Ukraine.

In a joint statement issued on Sunday, the leaders of the Group of Seven said they will strengthen Russia’s economic isolation and “elevate” a campaign against Russian elites who back President Vladimir Putin. The leaders said they would cut off essential services on which Russia relies after meeting electronically with Ukrainian President Volodymyr Zelenskiy, deepening Russia’s isolation “across all areas of its economy.” They also pledged to reduce reliance on Russian energy, including by prohibiting Russian oil imports.

Putin calls the invasion a “special military operation” to disarm Ukraine and rid it of anti-Russian nationalism fomented by the West. Ukraine and its allies say Russia launched an unprovoked war.

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