G7 leaders have agreed to move swiftly to impose additional sanctions on Russia over the crisis in Ukraine.
In a joint statement, the group of seven major economic powers said that given the urgency of ensuring peaceful elections in Ukraine next month, they've committed to intensify targeted sanctions on Russia to increase the costs of its actions. The group added that Russia has taken no concrete actions to comply with the Geneva accord and has continued to escalate tensions. It also stressed that the door remains open to the democratic resolution of the crisis. The United States is also planning to impose additional sanctions on Russia. A US official speaking on condition of anonymity said the new sanctions could come as early as Monday. Sources familiar with the matter have said that Washington's sanctions will target President Vladimir Putin’s cronies.