Group of Seven
Three Cypriot companies are included in the new list of sanctions imposed by the US. A press release by the US Department of the Treasury says that with over 300 sanctions, the US is targeting Russia's circumvention and evasion of previous sanctions, military-industrial supply chains, and future energy revenues.
President Joe Biden's departure Wednesday to the G7 in Japan was meant to launch a geostrategic masterclass on rallying the world's democracies against China. Instead, he will limp into an abruptly truncated journey facing concerns that the US debt ceiling row is about to tear up the global economy.
The G7 plans to launch a partnership scheme to diversify supply chains this year, ministers from the group said Saturday following finance talks in Japan ahead of a major summit next week.
The ministers did not directly mention efforts to reduce reliance on trade with China or Russia as motivation for the new framework, which focuses on clean energy technology.