The White House said G7 leaders agreed that funds received from increased trade tariffs on Russian exports should be used as aid to Ukraine. The United States plans to impose additional tariffs on 570 categories of Russian goods worth approximately US$2.3 billion.
A White House press release said U.S. President Joe Biden and other G7 leaders "will seek permission to use the proceeds from any new tariffs on Russian goods to help Ukraine ensure that Russia pays the costs of the war." New It is unclear which goods the U.S. tariffs will be imposed on.
The U.S. government said: "These measures will limit Russia's ability to financially benefit from sales to the U.S. market and are carefully calibrated to impose costs on Russia while minimizing costs to U.S. consumers."
U.S. officials said they have imposed tariffs on more than 75% of goods imported from Russia. As part of the sanctions, the UK also imposed an additional 35% tariff on $1.4 billion worth of goods imported from Russia, including palladium, platinum and chemicals.
