US EditionG7 nations say they will target those continuing to increase Russian oil purchases
G7 nations plan new sanctions targeting Russian oil buyers and companies to cut Kremlin’s war funding, with tariffs on major importers like China and India under consideration.
- G7 finance ministers pledged to target those increasing purchases of Russian oil since the invasion of Ukraine, aiming to reduce Moscow's revenue for the war.
- They emphasized the importance of trade measures, including tariffs and bans, to limit Russian revenues.
- The countries will also consider restrictions on entities financing Russia's war efforts through oil purchases.
- This statement follows the United States' indication of readiness to broaden tariffs on Russian oil buyers if the European Union acts similarly.
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75 Articles
G7 nations say they will target those continuing to increase Russian oil purchases
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.
For several weeks now, the US President has been calling on his allies to stop importing Russian oil and punish those countries that continue to do so.
The G7 finance ministers want to increase the pressure on those states that continue to source oil from Russia.
The measure taken by G7 finance ministers would affect the revenue Moscow needs for the war in Ukraine
Firstpost News
Le Journal de QuebecG7 ministers vow to take action against countries increasing Russian oil purchases
In a statement after a virtual meeting, officials from the Group of Seven advanced economies -- Britain, Canada, France, Germany, Italy, Japan and the United States -- agreed that it is time to "maximize pressure on Russia's oil exports"
G7 Finance Ministers committed on Wednesday to targeting those who continue to increase their purchases of Russian oil despite Moscow's war in Ukraine, in a context of Donald Trump's pressure for such measures.
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