G7 – The leaders of the 7 most advanced economies
Ucrian Russia War, G7 leaders pledge to stop imports of Russian oil
The countries of the G7 they undertake to “gradually eliminate or ban imports of Russian oil”, but with “ordered” methods and timing and such as “to ensure the world time to find alternative supplies”.
It can be read in the press release issued during the extraordinary conference of leaders via teleconference, under the rotating presidency of the Germanybut spread by the channels of the White House. The seven major advanced economies are also committed to collaborating with various partners “to ensure stable and sustainable global energy supplies, at affordable prices for consumers, also by accelerating the reduction of overall dependence on fossil fuels – it reads – and the transition towards clean energy, in line with our climate goals “.
The commitment on the petrolium it is among those taken in the context of sanctioning measures against Russia following the invasion of Ukraine. The terminology used seems to have more weighted tones than the hypothesis of a complete ban on Russian oil by the end of the year, on which the EU countries have been debating for days, dividing. The Ukrainian president also participated in the videoconference Volodymyr Zelensky. Sanctions also against three Russian TV stations, Gazprombank executives and some relatives of Putin. In total, 27 people were sanctioned, including eight executives from Sberbank. The TVs that ended up on the US blacklist are Channel One Russia, Television Station Russia-1 and Ntv, linked directly or indirectly to the Kremlin. Promtekhnologiya, an arms manufacturer, was also sanctioned, along with eight shipping companies. The nuclear regulatory commission will also suspend licenses to export special nuclear material to Russia.
Putin’s actions in Ukraine represent “a disgrace” for Russia and its people. We read in the G7 statement after the summit by videoconference with the Ukrainian leader Zelensky.
EU sanctions, agreement on oil embargo is still postponed
The green light of the permanent representatives of the 27 of the EU (Coreper) has again slipped to sixth package of sanctions against Russia for the war in Ukraine, with the gradual embargo to the petrolium of Moscow. There would have been important progress on most of the measures, but there would still be work to be done, inter alia, on how to ensure the security of supply and technical issues to be resolved, also linked to infrastructure reconversion. According to the sources heard by BloombergL’Hungary continues to oppose this proposal, blocking the whole package.
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