The leaders of the Group of Seven industrialized countries approved at their summit held in Japan on Friday new sanctions on Russia against the backdrop of its war on Ukraine, and the sanctions included restrictions on exports of goods such as diamonds, and depriving Moscow of industrial technologies and equipment, while the leaders pledged in the draft final statement of the summit to reduce dependence on trade with China.

In a joint declaration issued after a meeting devoted to Ukraine, the leaders of the United States, Japan, Germany, France, the United Kingdom, Italy and Canada declared measures to "deprive Russia of industrial technologies and equipment."

These measures include restrictions on exports of products "essential to Russia on the battlefield" and target entities accused of transporting equipment to the frontlines on Moscow's behalf.

The US Treasury Department announced on Friday the addition of 71 entities to a trade blacklist because of its support for Russia, and the list includes 69 entities in Russia, one in Armenia and another in Kyrgyzstan, and the new US sanctions included expanding restrictions on exports of Russia and its ally Belarus, and affecting oil and gas projects.

The German news agency said that the leaders of the Group of Seven are seeking to restrict the diamond trade with Russia, as the latter is the largest exporter of precious metal in the world, and the details of the group's sanctions on Russian diamonds were not clear, but informed European sources said that the Group of Seven will use diamond tracking technology, to ensure that Russian diamonds can still be identified after resale through other countries, such as India or the UAE.

Ahead of the G7 summit, Britain and the European Union announced tough restrictions on imports of Russian diamonds, a sector that generates billions of dollars a year for Moscow.


Zelensky's presence

Ukrainian President Volodymyr Zelensky is attending the Group of Seven summit, and Ukrainian Security Council President Oleksiy Danilov said that "important issues will be decided (at the Hiroshima summit), so the presence of our president is absolutely essential to defend our interests."

A French diplomatic source said the arrival of the Ukrainian president was "very important".

The leaders of the Group of Seven countries decided on Friday that Ukraine will receive the support it needs in the budget this year and early 2024, while renewing their commitment to provide it with financial and military support in its war with Russia.

China Profile

The leaders of the Group of Seven countries said China's build-up of its nuclear arsenal was a "source of concern for global and regional stability" following talks on nuclear disarmament held today in Japan.

"China's acceleration of its nuclear arsenal in the absence of transparency or meaningful dialogue is a source of concern for global and regional stability," the group said.

A draft of an official G7 statement said the group's members were ready to establish "constructive and stable relations" with China, while acting in accordance with their national interests.

The draft showed that the group's leaders acknowledged that "economic strength entails risk reduction and diversification" away from China, the world's second-largest economy.

German Chancellor Olaf Scholz said on Thursday, without mentioning China by name, "We want to regulate supply, trade and investment relations globally so that the risks do not increase depending on certain countries."

But France was keen to stress that "this Group of Seven summit will not be a summit of confrontation", but a summit of "cooperation and consideration of requirements in the face of China".