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G7 to further curtail Russia’s use of global financial system — statement

At the same time, the document does not specify what sanctions the G7 might impose

HIROSHIMA /Japan/, May 19. /TASS/. The Group of Seven will work to further curtail the use of the international financial system by Russia and take steps against any circumvention of the sanctions, according to a statement adopted at the Hiroshima summit on Friday.

"We will also work to further curtail Russia’s use of the international financial system to

further its war in Ukraine," the G7 leaders said. They also agreed to prevent third-country branches of Russian banks from being used to avoid sanctions.

"We will continue to take necessary actions against Russia’s financial sector while coordinating to preserve financial channels for essential transactions," the statement reads.

At the same time, the document does not specify what sanctions the G7 might impose.

Japan, which holds the rotating G7 presidency this year, is hosting the group's summit in Hiroshima on May 19-21. On August 6, 1945, this Japanese city was devastated by US bombing.

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