MOSCOW, December 6 G7 countries intend to tighten compliance with price restrictions on Russian oil, including by introducing sanctions, the G7 summit said in a statement.
“We commit to tightening enforcement and strengthening Russian oil price cap policies, including by imposing sanctions against those who engage in deceptive practices and updating our compliance rules,” the joint statement said. statement of the G7 summit, which was published on the website of the Japanese Foreign Ministry.
In addition, the G7 countries will also “continue efforts to reduce Russia’s income from metals.”
The bloc's leaders also said they plan to speed up work in an attempt to reduce Russia's energy income.
Oil sanctions by Western countries against the Russian Federation came into force on December 5, 2022: the European Union stopped accepting Russian oil transported by sea, and the G7 countries, Australia and the EU introduced a price limit for oil transport by sea at $60 per barrel — it is prohibited to transport and insure more expensive oil. In response, Russian President Vladimir Putin by decree prohibited, from February 1, the supply of oil to foreign parties if the contracts directly or indirectly provide for the use of a mechanism for fixing the maximum price.
Russian President Vladimir Putin previously stated that the policy of containing and weakening Russia is a long-term strategy of the West, and sanctions have dealt a serious blow to the entire global economy. According to him, the main goal of the West is to worsen the lives of millions of people. The Russian Federation has repeatedly stated that Russia will solve all the problems that the West creates for it. Moscow noted that the West lacks the courage to admit the failure of sanctions against the Russian Federation. In Western countries themselves, opinions have been repeatedly voiced that anti-Russian sanctions are ineffective.