- US to add 70 Russian entities to its export blacklist
- Group will also target goods Russia uses on the battlefield
According to Bloomberg article published on May 19, 2023, the Group of Seven nations will increase pressure on Russia with additional sanctions as well as restrictions on goods it uses on the battlefield, according to a senior Biden administration official.
On day one of the summit in Hiroshima, the leaders will reaffirm their commitment to supporting Ukraine in a standalone statement on the war and their efforts to help the country fight for its freedom.
The Biden administration will cut off roughly 70 entities from Russia and other countries receiving US exports by adding them to the Commerce Department export blacklist. It will also announce it’s targeting some 300 entities, vessels and aircraft for circumventing existing sanctions or financially facilitating the war, according to the official.
The US will further disrupt Russia’s ability to source inputs for its war and will close loopholes that have allowed for sanctions evasion, the official added.
The G-7 nations will also commit to keeping Russia’s sovereign assets immobilized until the war is over and will seek to further reduce reliance on the country’s energy.
Ukrainian President Volodymyr Zelenskiy will be joining the group virtually. Over the past week, he has been touring capitals in Europe to make the case for more weapons deliveries.
The leaders on Friday will also visit Hiroshima Peace Memorial Park to pay respects and Biden will reaffirm the US commitment to nuclear non-proliferation.
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Published on May 19, 2023 3:06 PM (GMT+8)Last Updated on May 19, 2023 3:06 PM (GMT+8)
