Abolition of Russian oil imports – US sanctions

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The G7 today pledged to phase out Russian oil imports, while the The United States will take steps to ban or prevent Russia from supplying services on which Moscow depends, the White House said.

The G7 decision “will deal a severe blow to (Vladimir) Putin’s main economic artery and deprive him of the revenue he needs to finance the war»Against Ukraine, The US government emphasizes in the announcement.

The announcement does not specify what commitments each country has madenamely Germany (which is chairing the G7 this year), Canada, the US, France, Italy, Japan and Britain. The United States has already banned the import of Russian hydrocarbons, although these imports were small.

The G7 leaders in their joint statement stressed that will intensify Russia’s economic isolation and campaign against Russian elite supporting the Russian president, Vladimir Putin.

“As Putin prepares to celebrate the victory of the former USSR over Nazi Germany tomorrow, Monday, his actions in Ukraine”shame Russia and the historical sacrifices of its people“, Say the seven leaders. In their video conference, in which the Ukrainian president participated Volodymyr Zelenskyreiterated that “pledge to take new steps to help Ukraine secure a free and democratic future” and “to defend and repel future offensive actions “.

The United States has announced new sanctions on the media and the Russian elite

Washington has also announced a new set of measures against Russia, which focus on two major axes: the media and the access of Russian companies and the Russian elite to consulting and accounting services.

The United States is imposing sanctions on television channels Pervy Kanal, Rossiya-1 and NTV. Any American company will be banned from funding them through advertising or selling equipment to them.

«No American company should be involved in financing Russian propagandaSaid a senior White House official, stressing that These means are controlled, directly or indirectly, by the Kremlin.

US companies are also prohibited from providing accounting, management, consulting or other servicessuch as marketing or any service used to operate multinational companies but which could also be used to circumvent sanctions or conceal illegally acquired assets.

The White House commented that although Europeans have the closest industrial ties with Russia, the US and Britain dominate the services sector, mainly through the Big Four, the four giants in accounting and consulting: Deloitte, EY, KPMG and PwC. However, the provision of legal services is allowed.

The US also bans export a range of American productsfrom bulldozers and ventilation systems to boilers.

Sanctions were imposed, for the first time, on 27 Gazprombank executives. A senior US government official, however, clarified that the US “does not freeze the assets” of the bank, nor does it ban transactions with it. Eight Sberbank executives, Moscow Industrial Bank and ten subsidiaries, the defense industry Promtekhnologiya, seven shipping companies and a tugboat company were added to the sanctions list. The White House said the Nuclear Regulatory Commission would suspend licenses to export special nuclear material to Russia.

It was also announced that travel sanctions would be imposed on 2,600 Russian and Belarusian citizens.

Source: ΑΠΕ-ΜΠΕ

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