Story by the Associated Press; curated by Dave Urbanski

WASHINGTON (AP) — The United States and other nations in the Group of Seven said they have agreed to “move swiftly” to impose additional economic sanctions on Russia in response to its actions in Ukraine.

President Obama talks with UN Secretary-General Ban Ki-moon, center, and Chinese President Xi Jinping during a G-7 Leaders family photo at the Nuclear Security Summit, Tuesday, March, 25, 2014, in The Hague, The Netherlands. (Image source: AP/Doug Mills, Pool)

In a joint statement released Friday night by the White House, the G-7 nations say they will act urgently to intensify “targeted sanctions.” The statement says that the G-7 will also continue to prepare broader sanctions on key Russian economic sectors if Moscow takes more aggressive action.

The White House says U.S. sanctions could be levied as early as Monday.

The G-7 nations say they are moving forward on the targeted sanctions now because of the urgency of securing plans for Ukraine to hold presidential elections next month.

The G-7 consists of Britain, Canada, France, Germany, Italy, Japan and the United States. Russia was suspended from the Group of Eight in March 2014.

The following news report from March notes President Obama’s intention to bolster support from allies to impose sanctions on Russia over its actions in Ukraine:

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