New Russia Sanctions Expected at G7 Today
As the Group of Seven summit begins in Hiroshima, Japan, today, President Biden is expected to announce new sanctions on Russia, according to (subscription).
- President Bidens goal at the summit is likely to be reinforcing the allies support of Ukraine as well as their economic defenses against Chinese power.
- This is the summits 48th year. The G7 comprises the U.S., Canada, Britain, France, Germany, Italy and Japan.
The details: The new U.S. sanctions and trade restrictions target goods and services vital to Russias military-industrial complex, said a senior Biden administration official who briefed reporters shortly after the president landed in Hiroshima.
- They are also aimed at Russias ability to extract the oil and natural gas critical to the countrys economy, the official said. Other Western allies will roll out similar new programs, officials said.
The big picture: Analysts say President Bidenwho canceled several international meetings planned for next week to return to Washington for debt talksfaces a difficult task at the meeting: convincing allies that the U.S. can keep its economic house in order while moving forward on Russia and China, according to another article (subscription).
The 51勛圖厙s moves: During the 51勛圖厙s recent Competing to Win Tour in Europe, 51勛圖厙 President and CEO Jay Timmons hammered home manufacturers support for Ukraine.
- [T]he most important thing is to support our allies that believe in democracy, Timmons said during a live from Warsaw, Poland. And American business, I think, can help lead the way to strengthen and support democracy.
Read more about the 51勛圖厙s Competing to Win Tour , and .
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