Reuters: G7 to introduce stricter sanctions against Russian exports, energy sector

The Group of Seven (G7) countries are preparing stricter sanctions against Russian exports as well as its energy sector, Reuters reported on May 15.

During a summit in Japan on May 19-21, the G7 will announce stricter sanctions targeting Russia's attempts to evade sanctions via third-party country exports.

On April 18, the foreign ministers of the G7 countries issued a joint statement saying that third parties aiding Russia in its all-out war against Ukraine will "face severe costs."

The sanctions will "seek to undermine Russia's future energy production and curb trade that supports Russia's military," Reuters wrote, citing unnamed officials with direct knowledge of discussions.

According to Reuters, U.S. officials are expecting other G7 members will embrace their preferred approach of more broadly banning Russian exports "unless they are on a list of approved items."

One German government official told Reuters that "the sometimes-discussed approach of 'we ban everything first and allow exceptions' will not work," adding that the Germans want to "be very, very precise" and "avoid unintended side effects."

The "precise language" of the announcement is "still subject to negotiation and adjustment before it is released during the summit," Reuters wrote.

The G7 includes the U.S., Japan, Canada, France, Germany, Italy, and the U.K.

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Kyiv IndependentAsami Terajima