JAKARTA - The group of seven rich countries (G7) will decide at a summit in Hiroshima, Japan, to limit Russia's access to the global financial system and freeze its assets in the West, according to US officials.
The summit will also decide on the dependence of G7 countries on Russia's energy supply and other actions against Moscow regarding its military operations in Ukraine.
In a telephone briefing to the press regarding US President Joe Biden's participation at the G-7 summit, the official said the G7 intended to block Russian assets until Moscow stopped military operations in Ukraine.
"You'll see, first, some significant attempts to further hinder Russia's ability to obtain input (funds) for its war," the official said, as quoted by ANTARA from the Russian news agency Itar-Tass, Friday, May 19.
"Secondly, you will see efforts to close the gap in (sanctions) management. Third, we will try to reduce dependence on Russian energy. Fourth, we will continue efforts to suppress Russia's access to the international financial system," he said.
"Fifth, you will see a relentless commitment to keep Russian assets from moving until the war ends," he said.
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The official also said there would be action to support these principles to be interpreted in a Ukrainian statement.
He added there were about 300 sanctions against individual, entity, ship, and Russian aircraft to be announced.
"This (action) targets the imposition (sanctions), financial facilitators, Russia's ability to extract energy in the future, and other actors who help with the war," the official said.
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