G7 summit to announce measures increasing 'pressure on Russia': US official

News Image

MG News | June 23, 2022 at 10:21 AM GMT+05:00

0:00

June 23, 2022: Leaders at the upcoming G7 summit in Germany will announce new measures aimed at pressuring Russia over its invasion of Ukraine, a senior US official said Wednesday.

"We will roll out a concrete set of proposals to increase pressure on Russia," the official said. US President Joe Biden flies Saturday to join the leaders of Britain, Canada, France, Germany, Italy, and Japan at the summit in Bavaria.

The club of wealthy democracies is at the heart of a fierce economic and diplomatic campaign to punish Russia, which invaded Ukraine in February and continues to wage battles across the pro-Western country's eastern region, as well as occupying swaths of the south.

After attending the G7 summit from Sunday to Tuesday, Biden will fly to Madrid for a summit of the NATO military alliance next week.

Ukraine and Russia will feature heavily in both diplomatic gatherings as allies ponder how to weather the secondary impact from sanctions against Russia on their own economies -- particularly in stoking high fuel prices.

"How do we maximize pain on Putin's regime? How do we minimize spill-backs back to the rest of the world? And I think that's exactly how the discussion around energy markets and energy market challenges will get framed," a US official said, speaking to reporters on condition of anonymity.

The official also confirmed that Ukrainian President Volodymyr Zelensky would address both summits, albeit by video link from his embattled country.

AFP/APP

Related News

Name Price/Vol %Chg/NChg
KSE100 185,098.83
381.92M
2.01%
3642.50
ALLSHR 111,509.35
956.25M
2.13%
2327.02
KSE30 56,737.75
167.91M
2.00%
1112.07
KMI30 260,872.72
165.83M
2.57%
6529.72
KMIALLSHR 71,488.31
461.39M
2.50%
1744.73
BKTi 53,691.60
50.03M
1.27%
672.83
OGTi 38,672.45
45.54M
4.90%
1805.03
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 95,660.00 96,060.00
94,395.00
305.00
0.32%
BRENT CRUDE 64.20 64.77
63.44
0.44
0.69%
RICHARDS BAY COAL MONTHLY 86.75 0.00
0.00
-1.95
-2.20%
ROTTERDAM COAL MONTHLY 97.90 98.10
97.70
0.55
0.57%
USD RBD PALM OLEIN 1,027.50 1,027.50
1,027.50
0.00
0.00%
CRUDE OIL - WTI 59.22 60.05
58.81
0.14
0.24%
SUGAR #11 WORLD 14.99 15.00
14.60
0.42
2.88%

Chart of the Day


Latest News
January 16, 2026 at 07:03 PM GMT+05:00

Auto financing in Pakistan rises to Rs319bn in December


January 16, 2026 at 05:07 PM GMT+05:00

Is Pakistan entering a once in a generation moment?


January 16, 2026 at 05:06 PM GMT+05:00

PSX Closing Bell: Bulls Keep the Flame Alive


January 16, 2026 at 04:46 PM GMT+05:00

Mari Energies launches cloud and AI infrastructure platform


January 16, 2026 at 04:34 PM GMT+05:00

PKR holds steady against USD



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg