- United States President Joe Biden seeks to impose new sanctions on Russia over its war on Ukraine
- The Group of Seven nations are also planning to reduce their reliance on Russian energy sources
- The situation comes as the most powerful countries meet in Hiroshima, Japan, for this year's G7 Summit
United States President Joe Biden attends the G7 Summit being held in Hiroshima, Japan, and floats the idea of imposing new sanctions on Moscow as other world leaders work to reduce reliance on Russian energy sources.
One senior US official said that the US and its allies want to make it more difficult for Russia to avoid sanctions, access the international financial system, and continue its invasion of Ukraine. Nations that are part of the Group of Seven will also move to reduce their reliance on Russian energy further to limit Moscow has global influence.
US To Impose New Sanctions on Russia
The Biden administration also said it would block 70 entities from receiving American exports. The government would also introduce more than 300 new sanctions on several individuals, entities, vessels, and aircraft that are believed to target financial facilitators and other actors in Europe, the Middle East, and Asia, as per USA Today.
Despite the announcement, no additional details were revealed regarding the new sanctions package against Russia. However, a senior official who spoke anonymously said that it would be "substantial" and demonstrate how the US remains committed to restricting Russia over its actions.
The situation comes as other countries also plan to impose additional sanctions on Russia. The bloc seeks to disrupt Russian war supplies, close evasion loopholes, and reduce its reliance on Moscow's energy sources.
A European Union official on Thursday said that one potential target for discussion was Russia's multi-billion-dollar diamond industry. They added that there is a need to limit Russia's trade exports in that particular sector.
The official also said that Indian buy-in would be crucial in properly making any new measures against Russia work. This comes as India accounts for the majority of the global trade of rough diamonds, according to France24.
G7 Summit Agenda
Fortunately, G7 nations will have a chance to directly make their case to Indian Prime Minister Narendra Modi, as his territory has close military ties with Russia. So far, New Delhi has not decided to condemn Moscow's war on Ukraine.
The Indian prime minister is among leaders from major developing nations invited to the latest G7 Summit. It comes as the bloc is trying to win over countries skeptical of its approach to Russia's war on Ukraine and China's increasing global influence.
Biden also met with Japanese Prime Minister Fumio Kishida before the G7 Summit to work on further cooperation against China and Russia. During a briefing after he met with the US president that lasted about an hour, Kishida said that the international community is currently at a crossroads in history.
Meeting the world's superpowers is a chance to show their commitment to a "free and open international order" based on the rule of law. Reuters said that the Japanese prime minister's language referenced China and Russia's recent actions that go against that idea.
