WARSAW: Britain will urge G7 nations on Tuesday to ban Russian ships from their ports, agree a timetable to phase out oil and gas imports from Russia, and further tighten sanctions on banks and key industries.
Speaking in Poland ahead of a meeting of G7 foreign ministers later this week, British Foreign Secretary Liz Truss is expected to say:
“On Thursday, I will be urging our G7 partners to go further by joining us in banning Russian ships from our ports, cracking down on Russian banks, going after new industries filling Putin’s war chest like gold, and agreeing a clear timetable to eliminate our imports of Russian oil and gas.”
In response to the invasion of Ukraine, Britain and international allies have already sanctioned Russian banks and wealthy elites and taken steps to cut Moscow off from the international financial system.
Russian ships have already been banned from British ports.
Truss said existing sanctions had frozen $350 billion of Russian money and made over 60 percent of its foreign currency reserves unavailable.
“Our coordinated sanctions are pushing the Russian economy back into the Soviet era,” Truss was due to say, according to advance extracts released by her office.
Speaking alongside Polish foreign minister Zbigniew Rau, Truss was due to say the two countries had agreed to step up sanctions and the supply of weapons to Ukraine. Britain did not immediately provide further details.
UK urges G7 to ban Russian ships and set timetable for oil and gas exit
https://arab.news/9swuz
UK urges G7 to ban Russian ships and set timetable for oil and gas exit
- Britain and international allies have already sanctioned Russian banks and wealthy elites
- Truss said existing sanctions had frozen $350 billion of Russian money
First EU–Saudi roundtable on critical raw materials reflects shared policy commitment
RIYADH: The EU–Saudi Arabia Business and Investment Dialogue on Advancing Critical Raw Materials Value Chains, held in Riyadh as part of the Future Minerals Forum, brought together senior policymakers, industry leaders, and investors to advance strategic cooperation across critical raw materials value chains.
Organized under a Team Europe approach by the EU–GCC Cooperation on Green Transition Project, in coordination with the EU Delegation to Saudi Arabia, the European Chamber of Commerce in the Kingdom and in close cooperation with FMF, the dialogue provided a high-level platform to explore European actions under the EU Critical Raw Materials Act and ResourceEU alongside the Kingdom’s aspirations for minerals, industrial, and investment priorities.
This is in line with Saudi Vision 2030 and broader regional ambitions across the GCC, MENA, and Africa.
ResourceEU is the EU’s new strategic action plan, launched in late 2025, to secure a reliable supply of critical raw materials like lithium, rare earths, and cobalt, reducing dependency on single suppliers, such as China, by boosting domestic extraction, processing, recycling, stockpiling, and strategic partnerships with resource-rich nations.
The first ever EU–Saudi roundtable on critical raw materials was opened by the bloc’s Ambassador to the Kingdom, Christophe Farnaud, together with Saudi Deputy Minister for Mining Development Turki Al-Babtain, turning policy alignment into concrete cooperation.
Farnaud underlined the central role of international cooperation in the implementation of the EU’s critical raw materials policy framework.
“As the European Union advances the implementation of its Critical Raw Materials policy, international cooperation is indispensable to building secure, diversified, and sustainable value chains. Saudi Arabia is a key partner in this effort. This dialogue reflects our shared commitment to translate policy alignment into concrete business and investment cooperation that supports the green and digital transitions,” said the ambassador.
Discussions focused on strengthening resilient, diversified, and responsible CRM supply chains that are essential to the green and digital transitions.
Participants explored concrete opportunities for EU–Saudi cooperation across the full value chain, including exploration, mining, and processing and refining, as well as recycling, downstream manufacturing, and the mobilization of private investment and sustainable finance, underpinned by high environmental, social, and governance standards.
From the Saudi side, the dialogue was framed as a key contribution to the Kingdom’s industrial transformation and long-term economic diversification agenda under Vision 2030, with a strong focus on responsible resource development and global market integration.
“Developing globally competitive mineral hubs and sustainable value chains is a central pillar of Saudi Vision 2030 and the Kingdom’s industrial transformation. Our engagement with the European Union through this dialogue to strengthen upstream and downstream integration, attract high-quality investment, and advance responsible mining and processing. Enhanced cooperation with the EU, capitalizing on the demand dynamics of the EU Critical Raw Materials Act, will be key to delivering long-term value for both sides,” said Al-Babtain.
Valere Moutarlier, deputy director-general for European industry decarbonization, and directorate-general for the internal market, industry, entrepreneurship and SMEs at European Commission, said the EU Critical Raw Materials Act and ResourceEU provided a clear framework to strengthen Europe’s resilience while deepening its cooperation with international partners.
“Cooperation with Saudi Arabia is essential to advancing secure, sustainable, and diversified critical raw materials value chains. Dialogues such as this play a key role in translating policy ambitions into concrete industrial and investment cooperation,” she added.
