G7 countries are ready to impose sanctions for assistance to the Russian military-industrial complex
The G7 countries intend to impose sanctions for assistance to the Russian military-industrial complex (MIC). This is noted in communiqueprepared following a meeting of finance ministers of seven states.
“If necessary, we are ready to impose sanctions against individuals and legal entities that help Russia acquire advanced materials, technologies and equipment for its military-industrial base,” the document emphasizes.
In addition, the finance ministers agreed to strengthen control over the possibilities of circumventing anti-Russian sanctions. The G7 countries will have to more closely monitor their own companies in order to increase the effectiveness of the sanctions regime.
The meeting of G7 finance ministers took place in the Italian city of Stresa on May 23-25. In addition to G7 representatives, it was attended by the Minister of Finance of Ukraine Sergei Marchenko, as well as representatives of the leadership of the International Monetary Fund, the World Bank Group, the Organization for Economic Cooperation and Development and the Financial Stability Board.
Earlier, Reuters reported on the progress of negotiations between the G7 countries on the use of profits from frozen Russian assets. This point was also reflected in the final version of the adopted communiqué.
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