EU flagInternationalIndiaAfricaMOSCOW (Sputnik) – Representatives of the European Union and Japan have opposed a US proposal to almost completely ban G7 exports to Russia, noting that such a move is impossible to implement, the British news outlet reported, citing informed sources. “From our perspective it is simply not do-able,” one of the unnamed officials from the EU and Japan told news outlet at a meeting held last week. G7 leaders are preparing a statement for next month’s meeting in Japan’s Hiroshima, which is expected to include a commitment to replace the existing sectoral sanctions regime against Russia with a US-proposed total export ban with some exceptions for agricultural, medical and other goods, the newspaper reported on Monday, citing some documents at its disposal. EconomyUS Admits Russian Economy Showing Resilience to Sanctions, Says Their Impact Can ‘Take Time’24 February, 17:21 GMTAccording to some officials, replacing the current sanctions regime with the near-total export ban could lead to renewed disputes between countries over exemptions and potentially weaken existing measures, the report read. The draft statement also includes less-contested proposals to restrict evasion and circumvention of existing sanctions and measures against those “wilfully supporting the financing” of Russia’s military operation in Ukraine, including financial transactions facilitators, according to the report. G7 countries will also continue to reduce energy imports from Russia and will not allow “the reopening of avenues previously shut down by Russia’s weaponisation of energy,” the newspaper reported, citing the draft statement. The newspaper added that the G7 leaders will announce plans to introduce a “traceability mechanism” on Russian diamonds to reduce Moscow’s income from their export. AfricaAfrican Nations Reportedly Boost Russian Oil Imports Amid EU Sanctions27 February, 13:41 GMTThe White House’s National Security Council told the newspaper that Washington would “continue to look for ways to hold Russia accountable,” while declining to comment on talks with G7 partners, according to the report. G7 leaders are set to meet in Hiroshima for a three-day summit from May 19-21, which will focus on the impact of the Ukrainian crisis, economic security, green investments and the Indo-Pacific region.
- November 27, 2023
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