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May 26th, 2023

During the G7 summit in Hiroshima, Japan, the leaders announced the imposition of new sanctions on Russia and pledged further support to Ukraine.

On the 19th, according to Agence France-Presse, the G7 leaders announced during the Hiroshima summit their agreement to impose new sanctions on Russia, ensuring that Ukraine receives the necessary budgetary support between 2023 and early 2024. As early as the end of April, foreign media revealed that the G7 was considering “almost complete prohibition of exports to Russia.” In response, G7 leaders stated that the new sanctions would “prevent Russia from accessing G7 countries’ technology, industrial equipment, and services that support its war machine.” The sanctions include restrictions on the export of items that are “crucial on the battlefield against Russia” and targeting entities accused of assisting in the transportation of supplies to the front lines for Russia.

In response to this, Russia quickly issued a statement. The Russian newspaper “Izvestia” reported at the time that Dmitry Peskov, the Press Secretary to the President, said, “We are aware that the United States and the European Union are actively considering new sanctions. We believe that these additional measures will certainly hit the global economy. It will only exacerbate the risk of a global economic crisis.” Furthermore, earlier on the 19th, the United States and other member countries had already announced their respective new sanctions against Russia.

The ban includes diamonds, aluminum, copper, and nickel!

On the 19th, the British government issued a statement announcing a new round of sanctions against Russia. The statement mentioned that these sanctions target 86 individuals and entities, including Russia’s major energy and arms transport companies. Prior to this, British Prime Minister Sunak announced an import ban on diamonds, copper, aluminum, and nickel from Russia. The diamond trade in Russia is estimated to have an annual transaction volume of around 4 to 5 billion US dollars, providing crucial tax revenues for the Kremlin. It is reported that Belgium, an EU member state, is one of the largest buyers of Russian diamonds, along with India and the United Arab Emirates. The United States is also a major market for processed diamond products.

On the 19th, according to the website of the Russian newspaper “Rossiyskaya Gazeta,” the U.S. Department of Commerce banned the export of certain telephones, dictaphones, microphones, and household appliances to Russia. Over 1,200 types of goods were restricted from being exported to Russia and Belarus, and the relevant list was published on the Department of Commerce’s website. The report stated that the restricted goods include tankless or storage-type electric water heaters, electric irons, microwaves, electric kettles, electric coffee makers, and toasters. Additionally, the provision of devices such as corded telephones, cordless telephones, and dictaphones to Russia is prohibited.

Yaroslav Kabakov, the Strategic Director of the Finam Investment Group in Russia, stated, “The sanctions imposed by the European Union and the United States on Russia have reduced imports and exports. We will feel the severe impact within 3 to 5 years.” He mentioned that the G7 countries have devised a long-term plan to exert pressure on the Russian government. Furthermore, according to reports, 69 Russian companies, 1 Armenian company, and 1 Kyrgyzstan company have been targeted by the new sanctions. The U.S. Department of Commerce stated that the sanctions are aimed at the Russian military-industrial complex, as well as the export potential of Russia and Belarus. The sanctions list includes aircraft repair factories, automobile plants, shipbuilding yards, engineering centers, and defense companies.

Putin’s Response: The more sanctions and slander Russia faces, the more united it becomes

On the 19th, according to TASS, during a meeting of the Russian Interethnic Relations Council, Russian President Putin stated that Russia can only become strong and “invincible” through unity, and its survival depends on it. Additionally, as reported by TASS, during the meeting, Putin also mentioned that Russia’s enemies are provoking some ethnic groups within Russia, claiming that it is necessary to “decolonize” Russia and split it into dozens of smaller parts.

In addition, at the same time as the “siege” on Russia by the Group of Seven (G7), led by the United States, Russian President Putin announced an important ban targeting the United States. On the 19th, according to CCTV News, Russia issued a statement stating that it would prohibit the entry of 500 American citizens in response to the U.S. sanctions against Russia. Among these 500 individuals are former U.S. President Obama, other senior U.S. officials or former officials and lawmakers, U.S. media personnel, and heads of companies that provide weapons to Ukraine. The Russian Ministry of Foreign Affairs stated, “Washington should have known by now that any hostile actions against Russia will not go unanswered.”

Indeed, this is not the first time that Russia has imposed sanctions on American individuals. As early as March 15th last year, the Russian Ministry of Foreign Affairs announced sanctions against 13 American officials and individuals, including U.S. President Biden, Secretary of State Blinken, Secretary of Defense Austin, and Chairman of the Joint Chiefs of Staff Milley. These individuals included in the Russian “entry ban list” are prohibited from entering the Russian Federation.

 At that time, the Russian Ministry of Foreign Affairs also warned in a statement that in the “near future,” more individuals would be added to the “blacklist,” including “senior U.S. officials, military officials, members of Congress, businessmen, experts, and media personnel who promote anti-Russian sentiments or incite hatred against Russia.”

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