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British PM says G7 should take more risks to squeeze Russia

Published by Global Banking & Finance Review

Posted on February 24, 2025

1 min read

· Last updated: February 27, 2026

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British PM Keir Starmer discusses G7 sanctions on Russia - Global Banking & Finance Review
The image features British PM Keir Starmer speaking on G7's need to adopt riskier sanctions against Russia. This aligns with his call for action against Russian oil giants and evasion tactics, emphasizing the urgency of international cooperation in financial policies.
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LONDON (Reuters) - British Prime Minister Keir Starmer said on Monday the Group of Seven (G7) wealthy countries should be willing to take on more risk with regard to sanctions against Russia over its

British PM says G7 should take more risks to squeeze Russia

LONDON (Reuters) - British Prime Minister Keir Starmer said on Monday the Group of Seven (G7) wealthy countries should be willing to take on more risk with regard to sanctions against Russia over its invasion of Ukraine.

"I'm clear that the G7 should be ready to take on more risk, including on the oil price cap, sanctioning Russia’s oil giants, and going after the banks that are enabling the evasion of sanctions," Starmer said, speaking via video link to an international meeting held on the third anniversary of Russia's invasion.

Starmer also said Britain would announce its largest package of sanctions against Russia since the early days of the war, including more measures against vessels used to help Russia evade sanctions and targeting companies in China and elsewhere who supply military components.

Full details of the sanctions have not yet been published by the government.

Earlier Britain said it would ban entry to individuals who provide significant support or owe their wealth to the Russian state.

(Reporting by Sam Tabahriti, writing by Sachin Ravikumar, editing by William James)

Key Takeaways

  • British PM urges G7 to take more risks with sanctions.
  • Focus on oil price cap and sanctioning Russian oil companies.
  • UK to announce largest sanctions package since war began.
  • Sanctions to target vessels aiding Russia's evasion.
  • Measures also aimed at companies supplying military components.

Frequently Asked Questions

What did UK PM Keir Starmer propose for the G7?
Keir Starmer proposed that the G7 should be willing to take on more risks regarding sanctions against Russia, particularly concerning the oil price cap and targeting Russian oil giants.
What is included in Britain's new sanctions package against Russia?
Britain's new sanctions package includes measures against vessels that help Russia evade sanctions and a ban on entry for individuals who support or are wealthy due to the Russian state.
When will the full details of the sanctions be announced?
The full details of the sanctions have not yet been published by the government, but they are expected to be the largest package since the early days of the war.

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