WASHINGTON: US President Joe Biden revealed a plan Wednesday to hold talks with other Group of Seven leaders this week on further sanctions against Russia over its invasion of Ukraine.

While Biden did not touch on specifics of the possible measures, leaders of the seven major industrial nations–Britain, Canada, France, Germany, Italy, Japan and the United States–plus the European Union are expected to discuss the possibility of banning imports of oil from Russia.

“We’re always open to additional sanctions,” Biden told reporters at the White House. “I’ll be speaking with the members of the G7 this week about what we’re going to do or not do.”

US Treasury Secretary Janet Yellen, attending online a meeting held in London the same day, said that the United States is always talking with its partner countries about additional sanctions on Russia.

European Commission President Ursula von der Leyen on Wednesday announced a draft plan to ban oil imports from Russia by the end of this year and crude oil imports within six months.

The EU also appears to be aiming to add Sberbank, Russia’s largest commercial bank, to the list of financial institutions subject to removal from the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

The G7 leaders are expected to share the contents of these possible measures against Russia at the upcoming talks.

Among the G7 countries, the United States and Canada have announced plans to ban Russian crude oil imports.

JIJI Press