G7 Finance Ministers Unite to Pressure Russia

The G7 finance ministers have announced plans to intensify pressure on Russia by targeting entities supporting increased Russian oil purchases. The ministers emphasized trade measures, including tariffs and bans, to curb Russian revenues amid Moscow's invasion of Ukraine. This statement followed a virtual meeting.

The finance ministers of the Group of Seven nations have declared their collective resolve to amplify economic pressure on Russia. This initiative targets those aiding the rise in Russian oil acquisitions and circumventing sanctions.

During a virtual meeting held on Wednesday, the G7 ministers underscored the necessity of implementing trade measures such as tariffs and import-export sanctions. These measures aim to deplete Russia's financial resources, as Moscow's actions in Ukraine persist.

The ministers' joint statement reflects a unified approach to curtail Russia's economic strength through diplomatic and financial interventions.

(With inputs from agencies.)