G-7 leaders to announce new sanctions on Russia

Thursday, May 18, 2023 | Tag Cloud

(Worthy News) – The leaders of the world’s seven largest economies will announce new sanctions on Russia at their summit in Japan in the latest effort to force Moscow to end its war in Ukraine, a senior White House official said.

While the existing sanctions on Russia are some of the toughest ever imposed, the results so far have been mixed.

The penalties have left Moscow financially isolated and shunned by its key trading partners. But the predictions of economic ruin have not materialized as Moscow’s economy shrank by only 2.1% in 2022, and the penalties have done little to stop Russian President Vladimir Putin’s relentless assault on Ukraine. [ Source: Washington Times (Read More…) ]

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