Published by Global Banking & Finance Review®
Posted on February 24, 2025
1 min readLast updated: February 27, 2026
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UK PM Keir Starmer urges G7 to intensify sanctions on Russia, focusing on oil caps and banks aiding evasion.
LONDON (Reuters) - British Prime Minister Keir Starmer said on Monday the Group of Seven (G7) wealthy countries should be willing to take on more risk with regard to sanctions against Russia over its invasion of Ukraine.
"I'm clear that the G7 should be ready to take on more risk, including on the oil price cap, sanctioning Russia’s oil giants, and going after the banks that are enabling the evasion of sanctions," Starmer said, speaking via video link to an international meeting held on the third anniversary of Russia's invasion.
Starmer also said Britain would announce its largest package of sanctions against Russia since the early days of the war, including more measures against vessels used to help Russia evade sanctions and targeting companies in China and elsewhere who supply military components.
Full details of the sanctions have not yet been published by the government.
Earlier Britain said it would ban entry to individuals who provide significant support or owe their wealth to the Russian state.
(Reporting by Sam Tabahriti, writing by Sachin Ravikumar, editing by William James)
Keir Starmer proposed that the G7 should be willing to take on more risks regarding sanctions against Russia, particularly concerning the oil price cap and targeting Russian oil giants.
Britain's new sanctions package includes measures against vessels that help Russia evade sanctions and a ban on entry for individuals who support or are wealthy due to the Russian state.
The full details of the sanctions have not yet been published by the government, but they are expected to be the largest package since the early days of the war.
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