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Investing.com -- Britain and its allies in the Group of Seven (G7) countries plan to announce additional sanctions against Russia on Tuesday, according to the British government.
The new sanctions package aims to increase pressure on Moscow over its ongoing war in Ukraine.
Prime Minister Keir Starmer is expected to make an announcement regarding the sanctions, stating: "We are finalising a further sanctions package – and I want to work with all of our G7 partners to squeeze Russia’s energy revenues and reduce the funds they are able to pour into their illegal war."
The G7 consists of Britain, Canada, France, Germany, Italy, Japan, and the United States.
The upcoming sanctions represent the latest effort by Western nations to target Russia’s economic resources, particularly focusing on energy revenues that help fund its military operations in Ukraine.
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