The G-7 countries imposed a series of new sanctions on Russia following a videoconference meeting with Ukraine's President Volodymyr Zelenskyy on Sunday, the White House said.

In a joint statement, the G7 said they will reinforce Russia's economic isolation and "elevate" a campaign against Russian elites who support President Vladimir Putin.

The leaders of Britain, Canada, France, Germany, Italy, Japan and the United States held the meeting on May 8, a day traditionally set aside in Europe to mark the end of the European portion of World War II and the liberation of Europe from Nazi forces.

The commemorations are set to be echoed in Russia on Monday – the day Russia traditionally marks the end of the European war – with questions open about whether Putin will use the occasion to ratchet the war up or down.

"We commit to phase out our dependency on Russian energy, including by phasing out or banning the import of Russian oil. We will ensure that we do so in a timely and orderly fashion, and in ways that provide time for the world to secure alternative supplies," the joint statement said.

"This will hit hard at the main artery of Putin's economy and deny him the revenue he needs to fund his war," the White House said.

The West has so far displayed close coordination in its announcements of sanctions against Russia, but has not moved at the same pace when it comes to Russian oil and gas.

The United States, which was not a major consumer of Russian hydrocarbons, has already banned their import.

But Europe is far more reliant on Russian oil. The European Union has already said it is aiming to cut its reliance on Russian gas by two-thirds this year, though Germany has opposed calls for a full boycott, with member states continuing intense negotiations Sunday.

The G-7 also slammed Putin personally for his actions in Ukraine.

The Russian president's "unprovoked war of aggression" against its Eastern European neighbor has brought "shame on Russia and the historic sacrifices of its people," the group said in its statement.

"Russia has violated the international rules-based order, particularly the U.N. Charter, conceived after the Second World War to spare successive generations from the scourge of war," the statement continued.