Why are G7 countries kicking out Russia?
The G7 countries have been imposing sanctions on Russia since 2014, when Russia’s membership was suspended over the annexation of Crimea. The sanctions include phasing out imports of Russian oil and gas, a major source of revenue for the country.
In addition, the G7 countries have recently announced plans to ban imports of Russian diamonds from January 2024, which is aimed at targeting a major sector of the Russian economy.
The G7 countries have also been engaging with other countries to restrict trade in and use of diamonds mined, processed, or produced in Russia.
The G7 countries have been taking these measures to punish Russia for its war in Ukraine and to counter its aggression in the region. The G7 countries have been working together to restrict Russia’s access to technology, industrial equipment, and services that support its war machine.
The G7 countries have been reaffirming their solidarity with Ukraine and their determination to punish Russia.
what are the specific sanctions imposed on Russia by G7 countries
The G7 countries have imposed a range of sanctions on Russia since 2014, which have been intensified over time. The specific sanctions imposed on Russia by G7 countries include:
- Sanctions on hundreds of individuals and entities, including those responsible for human rights abuses, war crimes, and illegitimate authorities.
- Measures targeting the Russian military production and supply chains.
- Tariffs on hundreds of Russian products worth billions of dollars.
- Restrictions on exports of industrial machinery, tools, and technology useful to Russia’s war.
- Ban on imports of Russian diamonds from January 2024.
- Restrictions on trade in and use of diamonds mined, processed, or produced in Russia.
- Restrictions on Russia’s access to technology, industrial equipment, and services that support its war machine.
These sanctions are aimed at punishing Russia for its war in Ukraine and to counter its aggression in the region. The G7 countries have been working together to impose severe costs on Russia and to restrict its access to key industrial inputs, services, and technologies produced by their economies, particularly those supporting Russia’s armament industrial base and technology sector
