G-7 Finance Ministers to Discuss Russia Sanctions Fri.

Washington, Aug. 31 (Jiji Press)--Finance ministers from the Group of Seven major powers will hold an online meeting on Friday to discuss economic sanctions against Russia over its invasion of Ukraine, the White House said Wednesday.

The main talking point of the meeting will be on a proposed price cap on imports of Russian oil.

The G-7 nations, which include Japan and the United States, hope to decrease their dependence on Russian energy and stop Moscow from raising funds for the ongoing invasion.

In June, the G-7 leaders agreed to consider setting a price cap on oil from Russia as part of sanctions against Moscow.

The Wall Street Journal has reported that the G-7 finance ministers in the upcoming meeting are expected to present an outline of the oil price cap plan.

[Copyright The Jiji Press, Ltd.]