More sanctions: Putin's daughters in Ukraine's latest list of penalised people, entities

Ukrainian Cabinet ministers authorised a new pack of penalties against 99 individuals and 178 legal entities from Russia and Belarus on September 2, including daughters of Russian President Vlimir Putin. sanctions target Russian military firms as well as executives from Russia's and Belarus' national banks.

Sernia Group, in particular, was sanctioned for assisting Russia in supplying microelectronics equipment for military industry. Belarus is serving as a launching point for airstrikes and missile attacks against Ukraine by Russian forces. Hence, Western nations have punished Belarus with severe sanctions.

Earlier in June, Ukraine's President Volodymyr Zelenskyy signed an order implementing National Security and Defence Council's (NSDC) decision to sanction Russian President Vlimir Putin personally. Among sanctions that are implemented permanently are asset freezing, a ban on export-import transactions, and limits on capital outflow from Ukraine. 

sanctions also targeted Kremlin spokesman Dmitry Peskov, Russian Prime Minister Mikhail Mishustin, Foreign Minister Sergey Lavrov, Defense Minister Sergei Shoigu, deputy prime ministers, ministers, and or officials. sanctions, imposed four months after Russia's February 24 incursion, appeared unlikely to have much practical impact beyond symbolic importance.

G7 to align introduction of price cap on Russian oil with EU sanctions

Meanwhile, G7 countries want to synchronise imposition of a price restriction on Russian oil with implementation of EU's sixth pack of sanctions, according to a joint statement issued by G7 finance ministers on September 2. Furr, G7 finance ministers pledged to work on finalisation and implementation of this policy in ir respective jurisdictions.

statement re, "We aim to align implementation with timeline of related measures within EU's sixth sanctions pack. We ackwledge that, for EU, unanimity among 27 EU Member States is required."

Earlier on September 2, Financial Times reported, citing sources, that G7 countries planned to back implementation of a price cap on Russian oil starting from December 5, with a similar measure for Russian oil products beginning February 5, 2023. According to publication, European Commission (EC) backed G7 recommendations.