G7 countries agree to stop importing Russian oil

The G7 of major industrialized countries “committed to ban or phase out imports of Russian oil,” the White House said on Sunday.

“This will deal a heavy blow to the main artery of (Russian President Vladimir) Putin’s economy and deny him the revenue he needs to finance his war,” it added in a statement.

The text does not specify the commitments made by the members of the G7 (France, Germany, Canada, Italy, Japan, Great Britain and the US), which held its third meeting of the year this Sunday by videoconference, with the participation of the President of Ukraine, Volodimir Zelensky.

The choice of date is highly symbolic, as Europeans commemorate the end of World War II in Europe on May 8.

The meeting was also held on the eve of Russia’s May 9 military parade, marking the Soviet Union’s victory over Nazi Germany.

“Russia has violated the rules-based international order, in particular the UN Charter, conceived after World War II to save successive generations from the scourge of war,” the group says.

Related  The US will study the risks of a digital dollar and other issues on cryptocurrencies

The “unprovoked” war promoted by Putin brought “shame to Russia and the historical sacrifices of its people,” the text adds. “We stand united in our determination that President Putin must not win his war against Ukraine.”

– Coordination and dependency –

The West has so far shown very close coordination in its sanctions announcements against Moscow.

However, it is not advancing at the same pace when it comes to Russian oil and gas.

The United States, which was not a major consumer of Russian crude, has already banned its import.

The members of the European Union, pressured to apply that measure, are much more dependent on Russia.

News and Images Source