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G7 leaders pledge to cease Russian oil import, impose further economic isolation
The G7 leaders pledged to continue and elevate their campaign against financial elites and family members “who support Russian President Vladimir Putin in his war effort and squander the resources of the Russian people”.
The Group of Seven (G7) leaders in a joint statement said on Sunday that they will impose further economic isolation on Russia for its invasion of Ukraine. After holding talks with Ukrainian President Volodymyr Zelensky via video conference, the leaders pledged to phase out dependency on Russian energy, including phasing out or banning the import of oil.
The leaders also said that they will continue to take action against Russian banks connected to global economy and systematically vital to Russian financial system.
The G7 leaders pledged to continue and elevate their campaign against financial elites and family members “who support Russian President Vladimir Putin in his war effort and squander the resources of the Russian people”.
The G7 leaders said that Putin's “unprovoked war of aggression” in Ukraine has brought “shame” on his country and the “historic sacrifices of its people”.
“Russia has violated the international rules-based order, particularly the UN Charter, conceived after the Second World War to spare successive generations from the scourge of war,” the G7 statement read.
The leaders said they remain “united” in their resolve that Putin “must not win his war against Ukraine”.
The G7 is an inter-governmental political forum comprising France, Germany, Italy, the United States, the United Kingdom, Japan, and Canada. The European Union (EU) is a ‘non-enumerated member’ of the group.
(With inputs from Reuters, AFP)
