G7 Foreign Ministers' Meeting in Germany, 2022.
Japan and the EU are resisting Washington's proposal for G7 countries to ban all exports to Russia. The plan was proposed amid rising concerns that Russia is finding ways to evade the West's current sanctions regime.
- G7 leaders are working to draft a statement ahead of their three-day summit in Japan next month.
- The U.S. issued a proposal for G7 countries to replace sector-by-sector sanctions with a blanket ban on exports to Russia.
- The ban would exclude some medical and agricultural products.
- Japan
and the EU indicated last week that the U.S. proposal was not feasible,
reports the Financial Times, citing sources briefed on the matter.
- A proposal to crack down on evasions of the G7's existing sanctions regime received more support.
- The
G7 has agreed to continue reducing Russian energy imports and to roll
out a “traceability mechanism” intended to reduce Russia's profit from
diamond exports.
- Washington and other G7 countries imposed sanctions intended to starve Russia of resources that could support its ongoing invasion of Ukraine.
- The
G7 is now trying to prevent Russia from leveraging its trade
relationships with states like Turkey and the United Arab Emirates to evade sanctions.
