Restriction on energy imports aims to deliver a financial blow to President Putin’s government, but it doesn’t help resolve the impending energy crisis.
“We remain steadfast in our commitment to our unprecedented coordination on sanctions for as long as necessary, acting in unison at every stage," the final G7 statement says.
Elizabeth Rosenberg, assistant secretary for Terrorist Financing and Financial Crimes, will visit India, officials say, as Washington seeks to keep India's purchases of Russian oil from rising.
The Davos summit of global political and business elites returns after a Covid-induced two-year break to face another momentous crisis: Russia's attacks on Ukraine – now in its 89th day.
Hungary and Slovakia, landlocked and dependent on crude from a Russian pipeline, are resisting the oil embargo and holding up the approval of the new package of sanctions.
The company was pushed into a headline loss of $20.4 billion in the quarter following its decision in February to pull its 19.75-percent stake in Russian energy group Rosneft.
Russia launches its full-scale offensive to take control of Ukraine's east, President Volodymyr Zelenskyy announces, while bombarding Lviv and numerous other cities on the 54th day of fighting.
China's gross domestic product expanded by 4.8 percent in the first quarter from a year earlier, beating analysts' expectations for a 4.4 percent gain and picking up from 4.0 percent in the fourth quarter.
Leaders on either side of the Atlantic diverge on whether to label Russia's actions in Ukraine as "genocide," as fierce fighting in the eastern European country continues on the 51st day.
Russia vows its offensive in Ukraine would continue until its goals are met as Kiev's forces mount a strong defence and inflict significant losses on Moscow's troops in the ongoing fighting – now in its 49th day.
EU condemns a "horrifying" attack on a train station in eastern Ukraine where evacuees had gathered, as the bloc formally adopts its fifth package of sanctions against Russia on the 44th day of the conflict.
India should avoid "attempt to circumvent or backfill" ongoing sanctions on Russia, US Deputy NSA Daleep Singh says, adding Moscow won't come to New Delhi's rescue in the event of border confrontation with rival China.
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