The Group of Seven (G7) nations committed to banning or phasing out imports of Russian oil.
The announcement comes as the U.S. unveiled sanctions against executives of the massive Russian gas exporter Gazprombank, as well as other businesses, in order to punish further Moscow for its ongoing war against Ukraine.
The two moves represent the latest attempt by the West to put pressure on Russian President Vladimir Putin for Russia’s invasion of Ukraine.
U.S. President Joe Biden met with the fellow G7 leaders in a video call with Ukrainian President Volodymyr Zelensky to discuss support for Ukraine, measures against Moscow, and the war in general. Discussions about how to implement additional measures about energy were a part of the discussion.
In a joint statement, the G7 leaders said that they commit to phasing out dependency on Russian energy, including phasing out or banning completely the import of oil from Russia.
The statement said that they will work together and with partners to ensure there is a timely, orderly, stable and sustainable transition in global energy supplies.
The new U.S. sanctions came against three Russian television stations, and banned Americans from providing accounting and consulting services to Russians. It also imposed 2,600 visa restrictions to officials in Russia and Belarus.
The measures against executives in Gazprombank are the first that involve the giant gas exporter. It shows the steps that were avoided by the U.S. and allies due to disrupting gas to Europe, which is the main customer of Russian oil and gas exports.
A senior White House official said that it is not a full block to these executives, and does not prohibit transactions with the company, but that it is a signal that Gazprombank is not a safe have, so therefore they are sanctioning some top business executives.
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