G7 Embargo Decision on Russian Oil
Burc Oran
May 9, 2022
G7 embargo decision on Russian oil

G7 countries announced that they would gradually end oil imports from Russia.

The White House made a written statement after the summit of the G7 leaders today, announcing the new sanctions to be applied to Russia due to the Ukraine war.

It was stated that the sanctions imposed on Russia so far have destroyed the gains the country has made in the last 15 years. Pointing out that the USA, European Union (EU), and G7 countries have agreed on a new sanctions package against Russia, it was noted that the USA will impose sanctions on three television channels under the total or partial control of the Russian state. It was reported that the said televisions were Channel One Russia, Russia-1, and NTV Broadcasting Company.

On the other hand, it has been reported that the US administration will also prohibit Americans from providing accounting, credit, company management, or management consultancy to people related to Russia, thus harming the Russian elites.

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