President Biden will discuss with G7 leaders to impose more sanctions on Russia

US President Joe Biden at the White House on May 4 reuters

According to Reuters, when asked by a reporter about the US plan after European Union (EU) proposes a new sanctions package targeting Russia, President Joe Biden May 4 said Washington is ready to introduce more sanctions.

“I’ll be talking to G7 members this week about what we’re going to do,” Biden added.

The White House declined to say when Biden would discuss it with other G7 leaders – including Britain, France, Virtue, JapanCanada and Italy.

White House Press Secretary Jen Psaki Nor did he name any tycoons who could be added to the US sanctions list. However, Ms. Psaki said Washington is continuing to consider its options.

“I can say that no one is exempt from our sanctions,” Psaki said.

The above statements are made after European Commission President Ursula von der Leyen on May 4 proposed the block’s 6th package of sanctions against Russia. Accordingly, Russian television stations cannot broadcast in Europe, Russia’s largest bank Sberbank and two other banks will be excluded from the SWIFT payment system. In particular, the EU also banned the import of all Russian crude oil for 6 months.

The European Commission’s proposal will need to be ratified by the 27 member states. This process could take a long time due to opposition from countries that are heavily dependent on Russian oil such as Slovakia and Hungary, which have openly opposed the idea of ​​embargo.

Meanwhile, Washington has imposed a series of sanctions on Russian banks and elites, including barring Americans from investing in Russia. In March, the US banned imports of Russian oil and other energy but excluded most energy-related transactions from financial sanctions to avoid indirect effects on European importers.