G7 to increase pressure on buyers of Russian oil

G7 finance ministers agreed to take joint measures to increase pressure on Russia to end its brutal war against Ukraine and support Ukraine in its self-defense efforts.

“Russia's further escalatory actions, including violations of NATO airspace, increased attacks on civilians, and damage to government and diplomatic buildings in Ukraine, are unacceptable and undermine efforts to achieve peace,” the G7 statement said.

Підписуйтеcь на наш Telegram-канал Lenta.UA - ЄДИНІ незалежні новини про події в Україні та світі

Joint G7 action and sanctions have already reduced Russia's revenues.

Ministers note that among the measures to increase pressure on Russia is the coordinated use of the full value of frozen Russian assets.

The G7's actions will target those who continue to increase their purchases of Russian oil after the invasion of Ukraine and those who contribute to the circumvention of sanctions.

"We agreed on the importance of trade measures, including tariffs and import/export bans, in our efforts to cut off Russia's revenues. We will take concrete steps to significantly reduce, with the aim of phasing out, our remaining imports from Russia, including hydrocarbon imports. We are also seriously considering trade measures and other restrictions on countries and organizations that help finance Russia's military actions, including petroleum products produced from Russian oil," the statement said.

Ministers will continue to put pressure on Russia through coordinated economic and financial measures.

Photo: armyinform.com.ua.

Читайте также: Taiwan became the world's largest importer of Russian oil

Читайте также: Without Russian energy, thousands of families will go bankrupt, - Orban