Skip to content
Edit post

Bloomberg: US, Ukraine allies weigh near-total ban on exports to Russia

by The Kyiv Independent news desk April 20, 2023 8:26 PM 1 min read
This audio is created with AI assistance

Several Ukraine's key partners, including the U.S., are considering an almost complete ban on exports to Russia over its war, Bloomberg reported on April 20, citing people familiar with the issue.

Ahead of a G7 summit in Japan, the group's officials are discussing an idea that would reverse the existing sanctions regime, with all exports banned unless exempted, the people said. Under the current system, all exports are allowed if they are not subject to sanctions.

If Group of Seven leaders support the move at the May summit, exceptions must be agreed upon. According to a Bloomberg source, medicines and agricultural products, including food, will likely be exempted from sanctions.

So far, sanctions have almost halved the value of European Union and G7 exports to Russia, the publication wrote. According to the Geneva-based Trade Data Monitor, goods from Europe, the U.S., Canada, and Japan, which still reach Russia, are worth about $66 billion.

G-7 members worry that is too much of a benefit for Russia's economy, especially with Moscow finding ways to bypass sanctions through third countries.

Germany, Italy, and Poland remain the three largest European product exporters to Russia, as Trade Data Monitor has found out.

Reuters: Poland proposes new sanctions against Russia
The proposal reportedly includes a ban on Russian oil imports to Germany through the northern part of the Druzhba pipeline as well as imports of Russian diamonds and natural gas, including LNG.
Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

News Feed

Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
6:47 AM

ISW: Russia holds offensive initiative.

"Russian forces have regained the theater-wide initiative and will be able to pursue offensive operations when and where they choose as long as they hold the initiative," the ISW said.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.