It has been announced that US President Joe Biden will meet with the leaders of the seven most developed countries in the world.

US President Joe Biden is expected to hold a private video conference with the leaders of the G7. President Biden previously said he would talk to G7 leaders about additional sanctions against Russia.

US Treasury Secretary Janet Yellen said the Biden administration constantly communicates with its allies about further sanctions and may take “additional measures” to pressure Moscow. The US Treasury and Justice Ministries announced that they were working in coordination with the G7 and EU countries to seize the assets of the Russian oligarchs.

The EU announced that it plans to cut ties with Russian oil by the end of this year, taking a very serious step as it expands sanctions against Russia. Ursula von der Leyen, President of the European Commission, said that the purchase of crude oil from Russia will be stopped within six months.