White House: G7 to impose new sanctions on Russia

G7 countries are set to unveil new sanctions against Russia, White House spokesman John Kirby announced.

Caliber.Az reports citing Russian media that according to Kirby, these sanctions will target "organizations and networks" that allegedly assist Russia in acquiring foreign products.

"This week, we will introduce several sensitive new sanctions and export control measures, in line with commitments made by G7 leaders," Kirby stated. The new sanctions will be announced during the G7 summit in Italy, from June 13 to 15.

Kirby mentioned that the sanctions aim to hinder financial intermediaries supporting Russia's defence-industrial base and reduce revenues in key sectors.

Additionally, the G7 is expected to approve a $50 billion loan to Kyiv, secured by proceeds from Russian assets, following the summit.