The US on Friday announced new sanctions on Russia that were imposed in coordination with the Group of Seven, but they fall far short of what the Biden administration was hoping to achieve.
According to the Treasury Department, over 300 sanctions were implemented on individuals, entities, vessels, and aircraft. The measures are meant to combat the circumvention and evasion of Western sanctions on Russia.
“We are imposing further sanctions and measures to increase the costs to Russia and those who are supporting its war effort,” the G7 leaders said in a joint statement on Friday during their summit in Hiroshima.
Ahead of the summit, the US was pushing for the G7 to agree to a full export ban on Russia, but the EU and Japan were against the plan and said it wasn’t realistic. The export ban would have had exemptions for medicine and agricultural goods.
The G7 leaders said they are “united in imposing coordinated sanctions and other economic actions to further undermine Russia’s capacity to wage its illegal aggression.” But the US-led Western sanctions blitz against Russia has done nothing to stop the war in Ukraine, and there are no indications further measures will.