G7 intensifies pressure on Russia, boosts Ukraine aid
British Prime Minister Keir Starmer emphasized the need to inflict "maximum pain" on Russian President Vladimir Putin through stricter sanctions and increased military aid to Ukraine, according to The Kyiv Independent.
Speaking at a virtual G7 summit, Starmer highlighted Putin's refusal to compromise and advocated for additional support to strengthen Ukraine's position. He stressed the importance of intensifying economic pressure and military assistance to achieve this goal.
These statements come amid ongoing G7 efforts to finalize a $50 billion aid package for Ukraine, funded by seized Russian assets, as recently announced by US Secretary of State Antony Blinken.
On December 9th, the UK imposed new sanctions on the illicit gold trade, which it believes is financing Russia's war against Ukraine.
"Russia is exploiting the illicit gold trade to launder money and circumvent sanctions, thereby fueling President Putin's war effort," the UK government stated in a press release.
The measures include asset freezes on five individuals who allegedly purchased over $300 million worth of Russian gold.
The UK government reported in 2023 that gold generated $15.5 billion for the Russian economy in 2021, making it one of the country's most valuable resources after energy exports.
Translation by Iurie Tataru
