G7 leaders said in a joint statement on Sunday that they would reinforce Russia’s economic isolation and step up a campaign against Russian elites who support President Vladimir Putin.
After meeting virtually with Ukrainian President Volodmyr Zelensky, the leaders said they would cut key services on which Russia depends, reinforcing Russian isolation “in all sectors of its economy”.
They also pledged to gradually eliminate dependence on Russian energy, including banning Russian oil imports.
“We will continue and elevate our campaign against the financial and family elites, who support President Putin in his war effort and squander the resources of the Russian people,” the leaders added in the statement.
The United States on Sunday announced sanctions against three Russian television stations, banned Americans from providing accounting and consulting services to Russians and imposed sanctions on Gazprombank executives to punish Moscow for invading Ukraine.
Putin calls the invasion a “special military operation” to disarm Ukraine and rid it of anti-Russian nationalism fostered by the West. Ukraine and its allies say Russia has started an unprovoked war.
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