G7 ministers discussed sanctions, tariffs, and the use of Russian assets.

The US Treasury Secretary called on other G7 countries to "follow Washington's lead" and impose tariffs on buyers of Russian oil . The G7 agreed to accelerate negotiations on using assets to aid Ukraine.

At a meeting in CANADA, G7 ministers discussed strengthening economic measures against RUSSIA "aimed at limiting its ability" to conduct military operations, according to a joint statement. This included new sanctions against Russia and tariffs on countries that "facilitate its military efforts."

US Treasury Secretary Scott Bessent called on the alliance's partners, "if they are truly committed to ending" the conflict between Moscow and Kiev, to "join the United States in imposing tariffs on countries purchasing Russian oil," the department reported. The largest buyers are CHINA and India.BLOOMBERG wrote that Washington is proposing to introduce tariffs of 50 to 100% on goods from these countries.

The G7 finance ministers also agreed to accelerate negotiations on the use of blocked Russian sovereign assets to finance Ukraine's defense and to "explore other mechanisms" that would allow for increased financial support for Kyiv.

According to Bloomberg, the US proposed to the G7 to create a legal mechanism for the gradual confiscation of assets. Most of the Russian funds are frozen in Europe, in the Belgian depository Euroclear. While Brussels is currently using only taxes on the income from these funds to aid Ukraine, Kyiv received €10.1 billion in profits from its European partners in the first half of 2025.

The Russian authorities consider the sanctions illegal. The Kremlin warned that implementing plans to use both the assets themselves and the interest earned from them would be a "very serious blow to the entire coordinate system of the international financial system," and that Moscow would take retaliatory measures.

The Kremlin dismissed US demands that other countries stop importing Russian oil as threats. Russian authorities claimed the country had succeeded in reducing its dependence on hydrocarbon exports.

ReadPIONERPRODUKT .by inTELEGRAM .