(VOVworld) - The leaders of the Group of Seven major economies agreed on Saturday to swiftly impose further sanctions on Russia over the Ukraine crisis.

(Photo: AFP)

A G-7 joint statement announced by the White House said that new measures would soon be taken to punish Russia for failing to comply with the multilateral agreement on resolution to Ukraine’s crisis. A US senior official said the new sanctions will likely target individuals or companies that influence specific sectors of the Russian economy such as energy and banking. He added the United States would unveil the new punitive measures as early as Monday. But G-7 also stressed that a diplomatic solution to Ukraine’s crisis is still open based on Geneva agreement and called on Russia to join this process.