According to the White House, the G7 club of wealthy countries is “committed to phasing out or blocking the import of Russian oil,” boosting pressure on Russian President Vladimir Putin over the invasion of Ukraine.
“This will hit hard at the main artery of Putin’s economy and deny him the revenue he needs to fund his war,” the Biden administration said in a statement, without specifying what commitments the G7 members — France, Germany, Canada, Italy, Japan, the United Kingdom, and the United States — have made.
So far, the West has cooperated in announcing sanctions against Russia, but not in its approach to Russian oil and gas.
Despite not being a big user of Russian hydrocarbons, the United States previously restricted their import.
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