Sunak announced that Britain will ban Russian diamonds, a $4 billion export industry for Moscow, as well as imports of Russian copper, aluminium and nickel.
Alongside the bans, Britain will also designate 86 people and companies, including those a part of Russian President Vladimir Putin's military-industrial complex as well as those involved in the energy, metals and shipping industries, which are key revenue sources for country.
"For the sake of global peace and security, we must show that brutal violence and coercion does not reap rewards," he said in a statement.
The sanctions were announced as the leaders of the G7 wealthy nations were in Japan's Hiroshima for a three-day summit where the topic of Ukraine and its defense against Russia are expected to take center stage along with creating peace in the Indo-Pacific and nuclear disarmament, among other pressing issues.
On Friday, the prime minister with other world leaders visited the Hiroshima Peace Park, ground zero of the first nuclear bomb used in war, which the U.S. military dropped on the city on Aug. 6, 1945.
The visit occurred at about noon and the ceremony included the laying of white flower wreaths at the cenotaph world leaders posing for photos.
Following the park visit, the G7 leaders will attend summit sessions, including those on Ukraine, during which Sunak will warn against complacency in defending democratic values and standing up to autocratic regimes, his office said in a statement.
The sanctions announcement on Friday comes after Sunak met with Ukrainian President Volodymyr Zelensky on Monday when the British leader confirmed new military aid would be coming.
They also come amid expectations that the other G7 leaders would soon follow with punitive measures of their own.
A senior official of Biden administration told reporters Thursday during a briefing on the summit that "all G7 members are preparing to implement new sanctions and export controls."
The trade controls will cut 70 Russian and third-country entities from U.S. exports and upwards of 300 people, companies, vessel and aircraft will be hit with designations.
"These will go after financial facilitators, as well as future energy and extractive capabilities of Russia and other actors helping to support the war," the official said. "This will include designations across Europe, the Middle East and Asia."
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