By Kanishka SinghWASHINGTON (Reuters) -The Group of Seven nations' finance ministers said on Wednesday they will take joint steps to increase pressure on Russia by targeting those who are continuing to increase their purchases of Russian oil and those that are facilitating circumvention. The G7 finance ministers also said they agreed on the importance of trade measures, including tariffs and import and export bans, in efforts to cut off Russian revenues due to Moscow's invasion of Ukraine. WHY IT'S IMPORTANTWashington has called on its allies to impose tariffs on purchasers of Russian oil like India and China. While Trump has refrained from imposing additional tariffs on Chinese imports over China's purchases of Russian oil, his administration has targeted New Delhi with extra tariffs on imports from India. KEY QUOTES"We will target those who are continuing to increase their purchase of Russian oil since the invasion of Ukraine and those that are facilitating circumvention," G7's statement said.