Russia suspended from G-8 and threatened with more sanctions over Ukraine crisis

The world’s top industrial powers threatened further sanctions to deter Russian President Vladimir Putin from taking over other parts of Ukraine and suspended Russia from participating in the Group of Eight.

Meeting for the first time since last week’s annexation of Crimea by Russia, Group of Seven leaders said last night they won’t attend a planned G-8 meeting which was to have been held in Sochi, site of the Winter Olympics, and will instead hold their own summit in June in Brussels.