Finance ministers from the Group of Seven discussed new sanctions on Russia and tariffs on countries buying its oil, as the U.S. urged allies to ramp up economic pressure.
Finance ministers from the Group of Seven held a call on Friday to explore further measures aimed at curbing Russia's military operations in Ukraine. The meeting, chaired by Canadian Finance Minister Francois-Philippe Champagne, focused on sanctions enforcement and potential new tariffs targeting countries that are viewed as supporting Russia's war effort by purchasing its oil.
A statement from the Canadian government said the ministers agreed to accelerate talks on utilising frozen Russian sovereign assets to fund Ukraine’s defence. The group also discussed a range of additional economic tools, including sanctions and trade measures, that could penalise countries enabling Russia’s wartime economy.
U.S. Treasury Secretary Scott Bessent urged his G7 counterparts to join Washington in levying tariffs on countries that continue to import Russian oil. "Only with a unified effort that cuts off the revenues funding Putin's war machine at the source will we be able to apply sufficient economic pressure to end the senseless killing," Bessent said in a joint statement with U.S. Trade Representative Jamieson Greer.
The U.S. Treasury separately called on the G7 and European Union to impose “meaningful tariffs” on goods from China and India to pressure them to stop purchasing Russian crude.
President Donald Trump, who has already increased tariffs on Indian imports to a total of 50%, has not yet expanded such measures to Chinese goods. His administration is maintaining a fragile trade balance with Beijing amid ongoing talks.
Bessent is travelling to Madrid for another round of talks with Chinese Vice Premier He Lifeng. The discussions will address trade relations, the U.S. push for a forced divestment of TikTok, and anti-money laundering concerns.
Trump, speaking on Fox News earlier Friday, expressed growing impatience with Vladimir Putin but stopped short of announcing new sanctions. While acknowledging sanctions on banks and oil remain possible, he emphasised that Europe must also intensify its pressure campaign. "We're going to have to come down very, very strong," he said.
Day 6 of the Milano Cortina 2026 Winter Olympics brought fans and photographers unforgettable moments of athleticism, determination and sheer joy. Fro...
U.S. border chief Tom Homan said on Thursday (12 February) a federal immigration crackdown in Minnesota will end after months of raids that led to mor...
Russia’s car market is continuing to receive tens of thousands of foreign-brand vehicles via China despite sanctions imposed after Moscow’s full-s...
Norwegian police searched the homes of former prime minister Thorbjørn Jagland on Thursday (12 February) as part of an ongoing investigation into all...
North Korean leader Kim Jong Un has chosen his teenage daughter as his successor, South Korea’s spy agency told lawmakers on Thursday....
Finance ministers from the G7 and other major economies met in Washington on Monday (12 January) to discuss ways to reduce dependence on rare earths from China, including setting a price floor and new partnerships to build up alternative supplies, ministers said.
In 2025, climate talks, security negotiations and trade diplomacy defined a year of high-level summits. Leaders met across continents to confront conflict, debate climate responsibility and shape global priorities. Some eased tensions, others exposed divisions, but all left their mark.
Export controls and critical minerals were key issues of discussion when G7 finance ministers met virtually on Monday (8 December). Countries continue to look at alternatives to move away from China's dominance in the rare-earth sector.
G7 foreign ministers and outreach guests gathered for a family photo during a ministerial meeting in Canada on Wednesday (12 November).
Greek Prime Minister Kyriakos Mitsotakis arrived in Ankara on Wednesday, where Turkish President Recep Tayyip Erdoğan held an official welcoming ceremony at the Presidential Palace, marking the start of high-level talks between the two NATO allies.
A senior adviser to Iran’s Supreme Leader said on Tuesday that negotiations with the United States must remain focused on the nuclear issue and be grounded in realism, as Washington and Tehran prepare to resume talks mediated by Oman.
James Van Der Beek, who rose to fame as Dawson Leery in the hit teen drama Dawson’s Creek, has died aged 48 following a battle with stage 3 colorectal cancer.
Canadian Prime Minister Mark Carney said a bridge project linking Canada’s Ontario province with the U.S. state of Michigan would contribute to cooperation between the two countries.
The suspect in a deadly school shooting in western Canada was an 18-year-old woman who allegedly killed her mother and stepbrother before attacking her former school. Investigators have not provided a motive for what is being described as one of the worst mass killings in Canada.
Plans for sweeping constitutional changes in Kazakhstan have sparked controversy, with civil society representatives accusing the authorities of rushing reforms without sufficient transparency or a clear public mandate.
Azerbaijan’s State Security Service has filed charges against a group of people accused of belonging to a criminal network alleged to have attempted to forcibly seize state power. It's claimed they tried to alter the constitutional structure, with the support of foreign intelligence agencies.
Afghanistan’s Health Minister has urged urgent action to strengthen domestic polio diagnostics and expand healthcare for returnees and vulnerable communities, pressing international partners in Kabul for faster, fully funded support as the country faces mounting strain on its health system.
Iran’s Foreign Minister Abbas Araghchi has firmly ruled out any discussion of the country’s ballistic missile capabilities in the newly resumed, Oman-mediated negotiations with the United States, stating they are not and will never be on the agenda.
Türkiye and Greece signalled renewed political will to ease long-standing tensions during high-level talks in Ankara on Wednesday (11 February). Maritime borders, migration and trade topped the agenda as both leaders struck a cautiously optimistic tone.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment