G7: Russia faces further economic sanctions over Ukraine crisis

Russia will face further economic sanctions if it continues to support rebels in Ukraine, G7 leaders say.

In a statement on Wednesday, the G7 group of economic powers said Russia had undermined “Ukraine’s sovereignty, territorial integrity and independence.”

The warning came after the EU added eight more Russians to its sanctions.

Earlier, Russia described new US and EU sanctions as “destructive and short-sighted”, and said they would lead to higher energy prices in Europe.

G7 leaders say Russia will face further economic sanctions if it continues to support rebels in Ukraine

The G7 group includes the US, Canada, France, Germany, Italy, Japan and Britain.

Its leaders said Russia could still “choose the path of de-escalation,” but warned President Vladimir Putin that he would face greater economic costs if he continued to back Ukrainian separatists.

They also called on all sides to establish a ceasefire at the crash site of the Malaysian Airlines jet that was shot down on July 17 in eastern Ukraine.

Russia has come under increased pressure to end its support for the rebels, who Western governments believe were behind the downing of MH17, killing all 298 people on board.

Vladimir Putin has also been accused by the US and EU of supplying heavy weapons to the rebels – a charge his government has denied.

On Tuesday, the US announced new economic sanctions against Russia, widening their scope to include three key sectors of the economy – energy, arms and finance.

The EU is also expanding its sanctions, targeting the oil sector, defense equipment and sensitive technologies.

Details of new EU sanctions are due to be published on Thursday.

Byo2CjL12QE
Diane A. Wade

Diane is a perfectionist. She enjoys searching the internet for the hottest events from around the world and writing an article about it. The details matter to her, so she makes sure the information is easy to read and understand. She likes traveling and history, especially ancient history. Being a very sociable person she has a blast having barbeque with family and friends.

Recent Posts

Spain: At Least 158 Killed In The Country’s Worst Flooding Disaster

At least 158 people have died in Spain's worst flooding disaster in generations. On October…

2 days ago

Russia Fines Google $20,000,000,000,000,000,000,000,000,000,000,000, Surpassing Global GDP

Google has been fined two undecillion (a two followed by 36 zeroes) roubles by a…

2 days ago

Financing Your Home Remodel: 7 Tips for Success

Embarking on a home remodel is an exciting journey, promising enhanced comfort, increased property value,…

2 weeks ago

Donald Trump Serves Up McDonald’s Fries While Kamala Harris Celebrates 60th Birthday with Church Choir

The US presidential candidates continued to campaign across key swing states on October 20. Footage…

2 weeks ago

America PAC: Elon Musk Promises to Award $1M Each Day to Swing States Voters

Elon Musk has said he will give away $1 million a day to a registered…

2 weeks ago

Canada Expels 6 Indian Diplomats Amid Khalistan Row

India and Canada have decided to expel their top envoys along with other diplomats as…

3 weeks ago