Latest EU’s Russia Sanctions Package Fails to Get G7 Backing

BELGIUM – The latest EU’s Russia sanctions package failed to get G7 and US backing, which proposed a coordinated effort to block Russian oil deliveries under its 20th package of anti-Russian sanctions, according to reports on Monday.

A diplomatic source in Brussels said that the proposal was presented to Washington and other G7 capitals as part of efforts to expand restrictions targeting the transport and servicing of Russian oil shipments.

“The EU presented to the US and G7 its plan to fully prohibit European businesses from transporting Russian oil and providing any kind of maintenance, supply, financing and insurance services to tankers that transport Russian oil, no matter what flag they are flying. The European Commission invited partners to impose similar restrictions on their companies. The United States refused,” the diplomat said.

He further said that he “does not exclude the possibility of Washington imposing its own measures in due time and on its own terms.”

“Other G7 partners said that joining the EU sanctions was possible but stopped short of giving any clear promises,” the source added.

Since the start of the war in Ukraine in February 2022, Russia has emerged as the world’s most sanctioned nation, surpassing Iran, Syria and North Korea.

According to sanctions-tracking databases, more than 16,500 restrictive measures have been imposed on Moscow targeting individuals, entities, vessels and aircraft.