Finance ministers and central bank governors of the Group of Seven major developed countries are due to meet in Washington on April 20 to discuss ways of stepping up pressure on Russia over its invasion of Ukraine, sources familiar with the plan said Saturday.
The finance chiefs from the seven countries -- Britain, Canada, France, Germany, Italy, Japan and the United State -- will gather to show their group's unity in its response to the invasion on the sidelines of a Group of 20 meeting.
The finance meeting of the world's 20 largest economies will be held on the same day in the U.S. capital but remains complicated by conflicts over Russia's participation.
U.S. President Joe Biden has said Russia should be removed from the G-20, composed of both developed and developing countries including China and India, which have stopped short of condemning Moscow's onslaught against its neighbor and killing of civilians.
U.S. Treasury Secretary Janet Yellen hinted earlier this month that the United States is prepared to boycott G-20 meetings should Russian officials turn up.
When the G-7 finance chiefs meet in Washington, they may also discuss how to deal with rising prices stemming from a series of sanctions imposed on Russia in the wake of its aggression, according to the sources.
The sanctions include removing Russian banks from a key international payment network, known as SWIFT, and having assets owned by high-ranking officials and powerful entities frozen.
Earlier this week, in the latest round of sanctions, the G-7 countries said they will "expedite" plans to reduce energy dependence on Russia by phasing out and banning coal imports.
On Feb. 14, 10 days before Russia's invasion started, the G-7 finance ministers and central bankers released a statement saying, "We are united in our resolve to protect the sovereignty, territorial integrity as well as economic and financial stability of Ukraine."
When the finance chiefs met remotely on March 1, they also agreed to apply further pressure on Russia.
