G-7 Nears Agreement to Ramp Up Curbs on Russian Oil Revenue

Group of Seven nations are closing in on an agreement to significantly increase sanctions on Russia over its continued war in Ukraine, according to a statement released after a finance ministers’ meeting on Wednesday.

“We are aligned on the need to act together and believe that now is the time for a significant coordinated escalation of measures to bolster Ukraine’s resilience and critically impair Russia’s ability to wage war against Ukraine,” the statement said.