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

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