G7 countries will continue to put pressure on Russia’s revenue streams. This list included the energy sector and the country’s future production capacities.
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This conclusion emerges from the statement following the meeting of G7 finance ministers, which took place on May 25. Izvestia provides details.
“We also commit to imposing new financial and economic sanctions to reduce sources of revenue, including European institutions aimed at introducing measures against Russia’s energy revenues and mining opportunities,” the text of the document continues.
The final protocol also states that the G7 countries welcome the European Union’s decision to direct benefits received from Russian sovereign assets to official kyiv.
According to current data, since February 2022, the G7 countries, as well as the European Union and Australia, have frozen a total of about €260 billion in Central Bank assets.
We previously wrote that Russian companies are forced to lengthen supply chains due to sanctions. Establishing alternative solutions for making payments generates higher currency conversion costs and commissions.
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
