WILMINGTON, May 9 — Group of Seven (G7) nations committed on Sunday to ban or phase out imports of Russian oil and the United States unveiled sanctions against Gazprombank executives and other businesses to punish Moscow for its war against Ukraine. The move represents the latest attempt by the...
WILMINGTON, May 9 — Group of Seven nations committed on Sunday to ban or phase out imports of Russian oil and the United States unveiled sanctions against Gazprombank executives and other businesses to punish Moscow for its war against Ukraine.
“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 sanctioned Gazprombank executives include Alexy Miller and Andrey Akimov, according to a statement from the“This is not a full block. We’re not freezing the assets of Gazprombank or prohibiting any transactions with Gazprombank,” a senior Biden administration official told reporters. “What we’re signaling is that Gazprombank is not a safe haven, and so we’re sanctioning some of their top business executives ... to create a chilling effect.
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., which holds one-third of Russia’s banking assets, were added to the latest US sanctions list. Moscow Industrial Bank“Taken together, today’s actions are a continuation of the systematic and methodical removal of Russia from the global financial and economic system.
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