26/04/2014 13:31
G-7 nations agree to more sanctions on Russia
The United States and other nations in the Group of Seven agreed Friday to "move swiftly" to impose additional economic sanctions on Russia in response to its actions in Ukraine, The Associated Press reported.
In a joint statement released Friday night by the White House, the G-7 nations said they will act urgently to intensify "targeted sanctions." The statement said the G-7 will also continue to prepare broader sanctions on key Russian economic sectors if Moscow takes more aggressive action.
The White House said U.S. sanctions could be levied as early as Monday.
The G-7 nations said they were moving forward on the targeted sanctions now because of the urgency of securing plans for Ukraine to hold presidential elections next month.
The penalties are expected to target wealthy Russian individuals who are close to President Vladimir Putin, as well as entities they run. However, the U.S. will continue to hold off on targeting broad swaths of the Russian economy, though the president has said he is willing to take that step if Putin launches a military incursion in eastern Ukraine.
A senior Obama administration official said each country in the G-7 would determine their own sanctions. While the sanctions will be coordinated, they will not necessarily be identical, according to the official, who was not authorized to discuss the matter publicly and insisted on anonymity.