Group of Seven (G7) nations have committed to phasing out dependency on Russian energy, including by banning imports of Russian oil.
The move represents the latest attempt by the West to put pressure on Russian President Vladimir Putin for his country’s invasion of Ukraine and the deadly aftermath that ensued.
“We commit to phase out our dependency on Russian energy, including by phasing out or banning the import of Russian oil. We will ensure that we do so in a timely and orderly fashion,” G7 leaders said in a joint statement.
“We will work together and with our partners to ensure stable and sustainable global energy supplies and affordable prices for consumers.”
The meeting comes ahead of Russia’s Victory Day celebrations on Monday (May 9). Putin calls the invasion a “special military operation” to disarm Ukraine and rid it of anti-Russian nationalism fomented by the West.
The United States and Europe have imposed crushing sanctions on Russia since its invasion, targeting banks, businesses and individuals in an attempt to squeeze the Russian economy and limit resources being used to advance the war.
The G7 – which unites the world’s seven wealthiest nations are the United Kingdom, the United States, Canada, France, Germany, Italy, and Japan.