The leaders of the G-7 (Germany, Canada, the United States, France, Italy, Japan and the United Kingdom) have pledged to ban imports of Russian oil at the end of the distance summit held this Sunday, according to the final declaration published by the White House, to intensify the international response against Moscow for the invasion of Ukraine.
The leaders will “commit to gradually eliminate dependence on Russian energy, including by phasing out or banning the import of Russian oil,” according to the text. “We will make sure to do it in a timely and orderly mannerand in a way that allows time for the world to obtain alternative supplies,” the statement added.
“In the meantime, we will work together and with our partners to ensure stable and sustainable global energy supplies at affordable prices for consumers, including accelerating the reduction of our overall dependence on fossil fuels and our transition to clean energy in accordance with our climate objectives”, adds the note.
The leaders of the main economies made this statement after a video call that included the participation of the President of Ukraine, Volodymyr Zelensky, on this eve of Russian Victory Day, May 9, which commemorates Russia’s victory over Nazi Germany in World War II; a date that has become a cornerstone of the Kremlin’s campaign to rally public support for the invasion.
The announcement also takes place after the European Union decided to prolong the negotiations on its own ban on imports of Russian oil to try to achieve the necessary unanimity, after this Sunday Hungary maintained its reservations on this. The meeting concluded without an agreement after an hour and a half of debate in which it has been recorded that Hungary demands “more guarantees” on supply alternatives or compensation for breaking with the Russian flow, various diplomatic sources have indicated to Europa Press.
Coming back to the G7 statement, its leaders will also commit to taking action to ban or prevent the provision of key services on which Russia depends. “This will reinforce the isolation of Russia in all sectors of its economy,” again according to the text, whose signatories once again declare their support for Ukraine’s sovereignty and territorial integrity, for international investigations into war crimes against the Russian president , Vladimir Putin, and world economic and food security in the face of the international impact of the conflict.
Additional US sanctions
Likewise, the United States has announced new particular sanctions against Russia’s communications, financial, industrial, nuclear and military sectors.
The sanctions affect three Russian television networks (Channel 1, Rossiya 1 and NTV), according to the statement also sent by the White House, which “are among the largest recipients of foreign income, which in turn feed back the income of the State Russian”.
The United States strictly prohibits its citizens from providing financial management services to Russian nationals
In addition, the United States strictly prohibits its citizens from providing financial management services to people of Russian nationality, according to the document, which also reflects new restrictions on the Russian industrial sector, specifically on seven shipping companies and the Promtekhnologiya arms factory.
Similarly, the US Nuclear Regulatory Commission will suspend general licenses to export “nuclear material and deuterium” to Russia, as well as new sanctions against “Russian elites and family members” and additional visa restrictions for “Russian military officers suspected of violations of International Law” during the conflict in Ukraine.
Finally, the United States has also announced sanctions against eight executives of Sberbank, Russia’s largest financial institution, 27 other Gazprombank executives, as well as the Moscow Industrial Bank and its ten subsidiaries.”