The leaders of the G7 countries have united to ban or halt imports of Russian oil. This is intended to put Russia under further pressure.
“We pledge to end our dependence on Russian energy by ending or banning Russian oil imports. We guarantee that we can handle the matter in a timely and orderly manner. Ready to use methods that will give the world enough time to find a replacement supply,”the G7 statement said.
The G7 also said that members would take action to ban or prevent the provision of vital services that Russia relies on to promote Russia’s isolation from all sectors of the economy. And they want to continue and intensify their anti-elite campaign against President Vladimir Putin in the war with Ukraine by introducing additional sanctions against individuals.
The White House stated that “The G7’s commitments will have a heavy impact on the lifeblood of the Russian economy and cut off the Ukrainian water supply pipes needed for war.”
Previously, the United States, which has been a mainstay of efforts to punish Russia for its invasion of Ukraine has issued an order banning the import of oil Liquefied natural gas and coal from Russia back in March.