The G7 Foreign Ministers have pledged to continue imposing sanctions on Russia in response to its military actions in Ukraine.

"They [ministers] remained committed to raising the costs of Russia's war of aggression by building on the comprehensive package of sanctions and economic measures already in place," the G7 Foreign Ministers said following their meeting at the High-Level Week of the UN General Assembly.

According to the statement, the G7 members expressed the intention to continue taking appropriate measures, consistent with their legal systems, against actors in China and in third countries that materially support Russia's war machine, including financial institutions, and other entities that facilitate Russia's acquisition of items for its defense industrial base.

The Foreign Ministers expressed their intention to continue to apply significant pressure on Russian revenues from energy and other commodities. This will include improving the efficacy of the oil price cap policy by taking further steps to tighten compliance and enforcement, including against Russia's shadow fleet, while working to maintain market stability.