United States, G7 Reject EU Plan to Block Russian Oil

(MENAFN) The European Union has been unable to obtain backing from the United States and other G7 countries for a coordinated plan to restrict Russian oil shipments under its proposed 20th package of anti-Russian sanctions, as stated by reports from Brussels.

A diplomatic source indicated that Brussels presented the initiative to Washington and other G7 capitals in an attempt to expand limitations on the transport and servicing of Russian oil deliveries.

"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, as reported.

The source added that he "does not exclude the possibility of Washington imposing its own measures in due time and on its own terms." He also noted that other G7 members expressed that joining the EU sanctions could be possible, but none made any firm commitments.

Since Russia’s invasion of Ukraine in February 2022, the country has become the most heavily sanctioned nation in the world, surpassing Iran, Syria, and North Korea. Reports indicate that over 16,500 restrictive measures have been imposed on Moscow, targeting individuals, organizations, vessels, and aircraft.

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