Daily Reports
Since the beginning of Russia's war of aggression against Ukraine, the West has implemented unprecedented sanctions against Moscow. Just in time for the G7 summit, the USA has now added to them. Shortly before the start of the summit in Italy, the USA presented a new package of sanctions in response to the ongoing conflict. The punitive measures are aimed at over 300 individuals and institutions that facilitated Russia's war efforts, including Chinese companies.
The US State Department highlighted that these sanctions target individuals and entities that helped Russia evade previous sanctions and produce battlefield materials. This new development shows the United States' continued concern about the extensive exports from China that support Russia's military industry. The sanctions also extend to those responsible for the abduction and re-education of Ukrainian children.
US Secretary of State Antony Blinken stressed that the United States would use all available tools to disrupt networks aiding Russia’s military industry and prevent Russia from exploiting the international financial system for its war efforts.
Russia has been at war with Ukraine since February 2022, initiating a large-scale campaign against its neighbor. In response, the West has imposed severe trade restrictions and export controls aimed at crippling Russia's ability to sustain its military operations. Now, as the heads of state and government from the G7—a bloc consisting of Italy, Germany, France, Great Britain, Japan, Canada, and the USA—assemble for this year's summit in Apulia, southern Italy, the Russian aggression against Ukraine remains a top agenda item.
Upon the announcement of the new sanctions, US President Joe Biden was en route to Italy for the summit, where other notable attendees include Council President Charles Michel, Commission President Ursula von der Leyen, and Ukrainian President Volodymyr Zelensky.
Last year, the US had similarly used the G7 summit to introduce new sanctions intended to complicate Russia's access to important battlefield goods. This consistent pressure from the West aims to hinder Moscow's military capabilities and diminish its capacity to wage war against Ukraine.
- The sanctions announced by the USA not only target key Russian entities but also include measures against the Moscow Stock Exchange. Treasury Secretary Janet Yellen noted that these measures affect the supply of international materials and equipment, including critical supplies from third countries.
