A banner of the Group of Seven finance ministers and central bank governors' meeting is displayed at Niigata Station, ahead of the meeting, in Niigata, Japan. (Photo: REUTERS)

New measures announced by the leaders during the meetings on Friday and Saturday will target sanctions evasion involving third countries, and seek to undermine Russia's future energy production and curb trade that supports Russia's military, the people said.

The Biden administration has previously pushed G7 allies to reverse the group's sanctions approach, which today allows all goods to be sold to Russia unless they are explicitly blacklisted. That change could make it harder for Moscow to find gaps in the sanctions regime.