Bloomberg has learned about the proximity of the G7 to an agreement on tougher sanctions against Russia

The G7 countries are close to concluding an agreement on a "significant tightening" of sanctions against Russia due to the conflict in Ukraine. This was reported on October 1 by Bloomberg with reference to the draft statement.

"We agree on the need to work together and believe that now is the time for a significant coordinated strengthening of measures to strengthen Ukraine's resilience," the statement said.

It is noted that the final version of the statement may still be changed before the finance ministers of the G7 countries speak on Wednesday, October 1. According to Bloomberg, we are talking about sanctions in the energy, finance and military industries.

"We agreed that now is the time to increase pressure on Russian oil exports, which are the country's main source of income," the statement said.

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Earlier, on September 19, the European Commission (EC) proposed to impose sanctions on 45 Russian and foreign companies as part of the 19th package of anti-Russian sanctions. It was reported that the new sanctions package will include a ban on investments in Russian special economic zones (SEZs) related to the Ukrainian conflict.

Later, on September 24, British analyst Alexander Merkouris said that the Russian economy continues to function well, despite the sanctions pressure from the West. He noted an increase in wages in Russia and an increase in living standards.

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