WASHINGTON: G7 finance ministers pledged Wednesday to take aim at those who are continuing to step up purchases of Russian oil, since Moscow’s invasion of Ukraine more than three years ago.
In a statement after a virtual meeting, officials from the Group of Seven advanced economies — Britain, Canada, France, Germany, Italy, Japan and the United States — agreed that it is time to “maximize pressure on Russia’s oil exports.”
This would hit at revenue Moscow needs for the war.
“We will target those who are continuing to increase their purchase of Russian oil since the invasion of Ukraine and those that are facilitating circumvention,” the ministers said in a joint statement.
They added that they agreed on “the importance of trade measures, including tariffs” and import or export bans in efforts to cut off Russian revenues.
The countries are also giving “serious consideration to trade measures and other restrictions on countries and entities that are helping finance Russia’s war efforts, including on refined products sourced from Russian oil.”
The statement came after the United States indicated last month that it was ready to broaden tariffs targeting buyers of Russian oil if the European Union takes similar moves.
President Donald Trump, who dialed in to talks between the United States and EU officials, had raised the possibility of tariffs between 50 percent and 100 percent targeting oil buyers like China and India, according to an official.
In September, the European Commission also said that it was working on potentially imposing tariffs on imports of Russian oil into the bloc, in the face of pressure from Trump.
The US leader has demanded that Europe end energy imports from Moscow before agreeing to move forward with sanctions against Russia.
The G7 ministers plan to meet again on the sidelines of the annual meetings of the International Monetary Fund and World Bank in Washington this month.
G7 ministers to target those increasing Russia oil purchases
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G7 ministers to target those increasing Russia oil purchases
- The US leader has demanded that Europe end energy imports from Moscow before agreeing to move forward with sanctions against Russia
Pro-Palestinian activists stopped from disrupting Milan Cortina Olympics torch relay
- A third group of about 10 people that was monitored by police waved Palestinian flags when the relay passed by the city’s biggest university, La Sapienza
ROME: Two groups of pro-Palestinian activists were prevented by authorities from coming into contact with the opening stages of the Milan Cortina Winter Olympics torch relay, Italian police said on Saturday.
Both groups — one of them with about 15 people — were removed before they reached the relay route in Rome, police said.
A third group of about 10 people that was monitored by police waved Palestinian flags when the relay passed by the city’s biggest university, La Sapienza.
There were also three people carrying signs in support of Venezuela near the American embassy.
In October, more than two million demonstrators marched through more than 100 Italian cities to protest the war in Gaza.
Olympic champion swimmer Gregorio Paltrinieri began the relay in the statue-lined Stadio dei Marmi and the torch was carried for 33 kilometers (20 miles) before ending the day in Piazza del Popolo.
The relay will cover 12,000 kilometers (nearly 7,500 miles) and wind its way through all 110 Italian provinces before reaching Milan’s San Siro Stadium for the opening ceremony on Feb. 6.
In all, there will be 10,001 torch bearers.
The next stops on the torch relay are Viterbo on Sunday and Terni on Monday.
