G7 countries announced new sanctions against Russia

Following Ukraine's successive failures on the battlefield, the country's supporters are seeking to weaken the Russian economy by introducing new sanctions, but these sanctions were previously imposed on Russian oil and gas, which led to the opposite result, and European countries were caught up in the consequences of rising fuel prices last winter. According to Reuters, G7 leaders promised in a statement that an embargo would be introduced on Russian non-industrial diamonds from January 1. Also, from March 1, an embargo will be introduced on the sale of Russian diamonds to third countries. The heads of the United States, Canada, Great Britain, Germany, France, Italy, Japan and the European Union said they plan to introduce additional restrictions on Russia's use of the international financial system and to push more intensively for a price ceiling on Russian oil. The G7, the European Union and a number of other allies have set a price ceiling for Russian oil at $60. They acknowledged that the effect of this price cap has diminished over the past year. In response to Russia's attack on Ukraine, America and Western countries imposed sweeping sanctions on Moscow and sent billions of dollars worth of weapons and military equipment to Kyiv. Despite unprecedented sanctions and Western attempts to isolate Russia, the Kremlin managed to keep its economy afloat.