A senior U.S. administration official said the government plans to introduce steps to 'economically isolate' Russia to weaken its ability to wage war.
The U.S. official added that all G-7 members are preparing to implement a fresh batch of export controls. That will include adding 70 entities to the U.S. commerce blacklist and more than 300 new sanctions against individuals, entities, vessels and aircraft.
"The U.K. is today announcing a ban on Russian diamonds, an industry worth $4 billion in exports in 2021, as well as imports of Russian-origin copper, aluminium and nickel," Prime Minister Rishi Sunak's office said in a Friday release. "Since China and India are not participating in the sanctions, Russia still has plenty of trading partners," he added.
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