The countries of the Big Seven (G7) plan to further restrict Russia's access to industrial resources and technologies that support Russian defense, the White House said..

Measures against Russian military production and supply chains.

G7 leaders will agree and expand targeted sanctions to further restrict Russia's access to key industrial resources, services and technologies produced by major economies, especially those that support Russia's military-industrial base and technology sector. The U.S. State Department and Treasury will aggressively target Russian defense supply chains by imposing blocking sanctions on large state-owned defense enterprises, as well as defense research organizations and dozens of other defense industry-related entities and individuals, and limiting Russia’s ability to replace.

Using duties on Russian goods to help Ukraine.

Earlier this year, G7 leaders pledged to strip Russia of its status that guaranteed low tariffs on Russian goods sold around the world.. President Biden and other G7 leaders will seek authority to use proceeds from new tariffs on Russian goods to help Ukraine and ensure Russia pays the cost of its war. President Biden also announces that in line with Congress' removal of Russia's trade status with the US, the US will impose increased duties on more than 570 groups of Russian goods worth about $2.3 billion to Russia.. These measures will limit Russia's ability to benefit economically from sales to the US market and will be carefully calibrated to impose costs on Russia while minimizing costs to US consumers..

Limiting Russia's participation in the global market and further curbing evasion attempts.

G7 leaders intend to limit Russia's income, including from gold, Russia's second largest export after energy. The United States will take a number of key actions to meet these commitments. The US Treasury Department will issue a ruling banning the import of new gold into the US, which will prevent Russia from participating in the official gold market.. The G7 leaders also commit to continue their targeted fight against those involved in tax evasion and reverse activities.. The U.S. Department of Commerce will take first action against companies engaged in reverse activities in support of Russia by placing several companies around the world on the Entity List, which will prevent these companies from purchasing US-origin goods and technologies, such as semiconductors. US Department of State and Treasury to Impose Blocking Sanctions on Individuals Linked to Assisting Russia in Tax Evasion. DOC and Treasury to Jointly Issue Warning to Financial Institutions to Help Identify Potential Export Control Violations.

Sanctions against those responsible for human rights violations - including war crimes, profiteering and illegitimate authorities.

G7 leaders will decide to impose sanctions on those responsible for human rights violations - including war crimes, exercising illegitimate power in Ukraine, as well as those involved in Russian tactics to steal Ukrainian grain or otherwise profit illegally from the war. The United States will impose blocking sanctions on private military companies operating in Ukraine, Russian military units that have been credibly involved in violations of human rights or international humanitarian law in Ukraine, and Russian-appointed senior officials in areas besieged or held by Russian forces, including ministers and. The US State Department will impose visa restrictions on approximately 500 officials for threatening or violating the sovereignty, territorial integrity or political independence of Ukraine or suppressing dissent in Russia.

Significant G7 Commitment to Budget Support and Other Assistance to Ukraine.

The G7 pledges to help Ukraine close short-term fiscal funding gaps, including a U.S. commitment to provide $7.5 billion from the recently adopted second supplementary budget. The leaders will also make an unprecedented long-term commitment to provide security and provide Ukraine with financial, humanitarian, military and diplomatic support as needed.. Leaders' commitment will include maintaining Ukraine's credible military readiness and defense, including through the timely provision of modern defense equipment and advanced weapons systems..