The U.S. has added 71 companies supporting Russia’s economy to a trade blacklist as G7 leaders agreed to step up sanctions against Russia over its invasion of Ukraine, Reuters reported on May 19.
Most of the companies are Russian, one is from Armenia and one from Kyrgyzstan, Reuters wrote, citing U.S. Commerce Department.
Canada’s Prime Minister Justin Trudeau has also announced additional sanctions against Russia, targeting over 70 individuals and entities.
According to Trudeau’s office, the list includes those “linked to Russian companies that provide military technology and know-how to Russia’s armed forces,” as well as family members of sanctioned individuals and members of the Kremlin elite.
Canada will also sanction 30 people and eight companies “involved in Russia’s ongoing human rights violations,” including the mass deportation of Ukrainian children.
The announcements have been made amid an ongoing summit of Group of Seven (G7) countries in Hiroshima, Japan.
On the opening day of the 3-day summit, G7 leaders agreed to tighten sanctions against Russia and expand financial aid to Ukraine, as declared in their joint statement.
The new sanctions target Russia’s ability to support its war efforts, aiming at industrial machinery and technology sectors.
Other measures aim to cut Moscow’s profit from diamond and metals export. Such a step was announced earlier today by British Prime Minister Rishi Sunak.