G7 to hike sanctions on Russia, close to oil price cap deal- U.S. official

The Group of Seven rich democracies will commit on Tuesday to a new package of coordinated actions aimed at increasing pressure on Russia over its war in Ukraine as they finalize plans for a price cap on Russian oil, a senior U.S. official said on Monday.

G7 leaders will also make an "unprecedented, long-term security commitment to providing Ukraine with financial, humanitarian, military and diplomatic support as long as it takes," including the timely provision of advanced weapons, the White House said in a fact sheet.