G7 Finance Ministers Contemplate New Sanctions Amid Ukraine Conflict

The finance ministers of the Group of Seven (G7) nations convened on Friday to explore potential economic penalties against countries allegedly aiding Russia in its ongoing military endeavors in Ukraine. A statement from Canada's finance ministry revealed that strategies such as additional sanctions and tariffs are under consideration.

Canada, leading the current G7 presidency, issued the statement emphasizing the group's united initiative to compel Russia to halt its aggression. As part of their discussions, finance ministers examined a gamut of economic actions designed to strain Russia's war capabilities further.

The international coalition aims to target nations perceived to be supporting Russia, signaling a potential intensification of economic measures. The meeting underscores the G7's commitment to leveraging economic tools to manage geopolitical conflicts.

(With inputs from agencies.)