Ukraine’s allies seek to close more Russia sanctions loopholes

The US, Europe and other key allies of Ukraine are preparing fresh penalties against Russia to try and tighten the net on the Russian economy more than 14 months into the war, according to people familiar with the matter, Report informs via Bloomberg.

The packages would be individually implemented but coordinated. A key goal is to close loopholes in existing penalties and tackle overall sanctions circumvention, the people said, asking not to be identified discussing sensitive matters.

The plans will be unveiled around a Group of Seven leaders meeting in Japan later this month.