Home » World » The G-7 has decided to stop Russian oil, but it is unknown when

The G-7 has decided to stop Russian oil, but it is unknown when


US President Joe Biden PHOTO: Reuters


They are committed to doing so “in a timely and organized manner”

The Group of Seven (G-7) has pledged to ban or phase out Russian oil imports, and the United States has imposed sanctions on leaders of Gazprombank and other companies to punish Moscow for its war against Ukraine.

This is the latest move by the West to put pressure on Russian President Vladimir Putin over his country’s invasion of Ukraine and the deadly effects of the war.

US President Joe Biden and other G7 leaders held a video conference today with Ukrainian President Volodymyr Zelensky to discuss the war, support for Ukraine and additional measures against Moscow, including in the field of energy.

The leaders of Britain, Canada, France, Germany, Italy, Japan and the United States met on the day Europe traditionally celebrates victory over Nazi Germany in World War II. Their conversation lasted a little over an hour.

“We are committed to phasing out our dependence on Russian energy, including by phasing out or banning Russian oil imports. We will ensure that we do so in a timely and orderly manner,” G7 leaders said in a joint statement. “We will also work with our partners to ensure a stable and sustainable global energy supply and affordable prices for consumers.”

The document does not specify specific time frames, nor which country has made what commitment, AFP reported.

Meanwhile, the United States has imposed sanctions on three Russian television stations, banned Americans from providing accounting and consulting services to Russians, and imposed visa restrictions on about 2,600 Russian and Belarusian officials.

The measures imposed on Gazprombank’s management are the first to affect Russia’s major gas exporter. The United States and its allies are avoiding taking steps that could cut off gas supplies to Europe, Russia’s main customer.

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