REUTERS, Washington

Group of Seven nations’ finance ministers discussed in a call on Friday further sanctions on Russia and possible tariffs on countries that they consider “enabling” its war in Ukraine, as the US called on its allies to impose tariffs on purchasers of Russian oil.

Canadian Finance Minister Francois-Philippe Champagne chaired the G7 meeting, which was held to discuss further measures to increase pressure on Russia to end its war against Ukraine, according to a statement from Canada, the head of the rolling G7 presidency.

The ministers agreed to speed up discussions to use frozen Russian assets to fund Ukraine’s defense, and discussed a “wide range of possible economic measures to increase pressure on Russia, including further sanctions and trade measures, such as tariffs, on those enabling Russia’s war effort,” the statement said.

US Treasury Secretary Scott Bessent told finance ministers during the call that they should join the US in imposing tariffs on countries that purchase oil from Russia, Bessent and US Trade Representative Jamieson Greer said in a separate statement following the meeting.

“Only with a unified effort that cuts off the revenues funding Putin’s war machine at the source will we be able to apply sufficient economic pressure to end the senseless killing,” Bessent and Greer said.

Bessent and Greer welcomed commitments made during the call to increase sanctions pressure and explore using immobilized Russian sovereign assets to benefit Ukraine’s defense, according to the joint statement.

Earlier in the day, a US Treasury spokesperson called on G7 and European Union allies to impose “meaningful tariffs” on goods