Leaders of the world's richest democracies agreed on Friday to stiffen sanctions against Russia, while a draft communique to be issued after their talks stressed the need to reduce their reliance on trade with China.
The Group of Seven (G-7) wealthiest economies vowed to restrict any exports to Russia that could help it in its 15-month war against Ukraine.
"This includes exports of industrial machinery, tools and other technology that Russia uses to rebuild its war machine," the G-7 leaders said in a joint statement released on Friday, adding that they would pursue moves to restrict Russian revenues from trade in metals and diamonds.
On China, the G-7 leaders were to agree that the country's status as the world's second-largest economy meant there was no alternative to seeking cooperation, according to an early draft of the final communique seen by Reuters.
This story is from the May 20, 2023 edition of The Straits Times.
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This story is from the May 20, 2023 edition of The Straits Times.
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