Russia-Ukraine Update: U.S. Adds More Sanctions on Ukraine

The United States has added more sanctions on Russia by banning American accounting and consulting firms from working there, as Group of Seven leaders stepped up pressure on President Vladimir Putin by pledging to halt oil imports from his country.

Amid the development crude oil declined further in early Asian trading. Oil declined also incentivized as investors weighed a pledge by the Group of Seven to ban imports of Russian crude against a cut in official prices by Saudi Arabia and China’s lockdowns.

Meanwhile, Ukrainian President Volodymyr Zelenskiy marked a day of remembrance for the defeat of Nazi Germany, a day before Putin is expected to a address a military parade in Moscow and may lay out the next steps of his war.