“G7 Countries Discuss Tightening Sanctions Against Russia: Possible Ban on Exports”

G7 countries discuss further tightening of sanctions against Russia

According to diplomats, further restrictions on trade with Russia are being discussed in the group of leading western industrial nations (G7). According to information from Friday, the USA, among others, is open to banning exports to the country in principle and only making exceptions possible for carefully selected products. This could be, for example, agricultural products and pharmaceuticals.

So far, export bans have only been imposed on selected products in response to Russia’s war of aggression against Ukraine. In the EU, these include, for example, aircraft, luxury goods and certain computer chips. In principle, exports to Russia are still permitted.

The Kremlin in Moscow warned on Friday that a complete ban on exports to Russia could also affect the international community: “We assume that the current sanctions that have been imposed on our country and the new additional steps that Brussels and Washington are now taking maybe think, in any case, of course, will also affect the global economy,” said Kremlin spokesman Dmitry Peskov on Friday, according to the Interfax agency. “Therefore, this can only lead to an increased trend towards a global economic crisis.”

EU diplomats in Brussels emphasized that talks are still in their infancy. The next package of sanctions by the EU against Russia should therefore initially focus on further restricting the possibilities of circumventing sanctions via third countries. A major hurdle for a complete ban on exports to Russia is that it would have to be decided unanimously within the EU.