US to impose new sanctions on Russia, including a vow to phase out imports of Russian oil and further crackdowns on state-controlled media and industrial trade

The US is imposing more sanctions on Russia.

The White House said it will impose more sanctions on Russia after the leaders of the G7 met with the president of Ukraine.

The G7 is an intergovernmental political forum that includes the US, UK, Canada, France, Germany, Italy, and Japan.

The G7 reassured President Zelenskyy of their continued readiness to help secure the future of the country, such that it can defend itself now and deter future acts of aggression.

According to a release from the White House, there is a closer look at how the US plans to impose the new sanctions.

Sanctioning Russian state-controlled media

Channel One Russia, Television Station Russia-1, and Joint Stock Company NTV Broadcasting Company are three of Russia's most watched directly or indirectly state controlled TV stations. The stations are among the biggest recipients of foreign revenue.

Cracking down on sanctions evasion

The White House has banned Americans from providing services in accounting, trust, and corporate formation to Russians.

The White House said in a release that these services are key to Russian companies and elites building wealth, generating revenue for Putin's war machine, and trying to hide that wealth and evade sanctions.

Reducing dependence on Russian energy

The G7 countries vowed to stop buying Russian oil. Russian oil, gas, and coal were banned by the US.

Introducing more export controls

The US will impose further restrictions on Russia's industrial sector, affecting materials and products with industrial and commercial applications. Wood products, industrial engines, boilers, motors, fans, and bulldozers are included.

One marine towing company and seven shipping companies that own or operate a total of 69 vessels were also sanctioned by the White House. The US Nuclear Regulatory Commission will suspend licenses for the export of nuclear material to Russia.

Sanctioning more Russian elites and officials

The US imposed visa restrictions on Russian and Belarusian officials because of the war in Ukraine. Russia's biggest financial institution, Sberbank, as well as 27 executives from the subsidiary of Russian gas giant Gazprom, were sanctioned. The Moscow Industrial Bank and its subsidiaries were sanctioned by the White House.