The US proposal to “complete the export ban on Russia” was not accepted at the G7
The EU and Japan opposed the “G7 proposal to ban all exports to Russia”.
G7 leaders will meet in Hiroshima on May 19 for a three-day summit that will focus on the ‘Russia-Ukraine’ war, economic security, green investments and developments in the Indo-Pacific region.
TOTAL EXPORT BAN IS REQUESTED
According to documents seen by the Financial Times, the statement prepared for next month’s meeting of G7 leaders included a commitment to replace the sanctions regime against Russia with a full export ban with few exemptions. According to the document, the ‘total export ban’ would cover all products except agricultural and medicinal products.
Among the recommendations listed in the draft declaration are measures to circumvent existing sanctions and facilitate financial transactions. In the draft, it was stated that the G7 countries will continue to reduce their energy imports from Russia.
EU AND JAPAN ‘UNACCEPTABLE’
According to two sources who spoke to the newspaper, the offer was made by the United States. However, at last week’s preparatory meeting, representatives of Japan and the EU countries suggested that such a move would not be possible.
The EU, which is a member of the G7 along with the US, UK, France, Germany, Italy, Japan and Canada, requires all 27 members to agree on a sanctions policy.
“From our point of view, this is not possible,” said one of the officials, speaking on condition of anonymity. The White House National Security Council did not comment on the talks with the G7 members.
10 SANCTION PACKAGES IMPLEMENTED
A council spokesman said: “Together with our G7 partners, we have imposed the largest sanctions ever imposed on a major economy. “These actions had a significant impact and undermined Russia’s ability to finance and fight its unjust war,” he said.
The G7 had agreed to a package of 10 sanctions against Russia since February 2022. But after weeks of wrangling between member states, some countries had granted waivers for some sectors, threatening to veto the restrictions.