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G7 to take measures to reduce Russia’s energy revenue

According to the document, the G7 countries "have dramatically reduced" their "reliance on Russian energy and commodities" and are ready to continue taking measures "so that Russia is no longer able to weaponize energy"

HIROSHIMA, May 19. /TASS/. The Group of Seven (G7) will continue to take steps to reduce Russia’s revenue from its export of energy products as well as to limit its extractive capabilities, according to a joint statement by G7 leaders on Ukraine approved at the Hiroshima summit on Friday.

It notes that the G7 will take "appropriate steps to limit Russia’s energy revenue and future extractive capabilities," based on the measures already taken, including the oil price cap.

That said, according to the document, the G7 countries "have dramatically reduced" their "reliance on Russian energy and commodities" and are ready to continue taking measures "so that Russia is no longer able to weaponize energy," the accusations that the Russian side has repeatedly refuted.

Additionally, the G7 leaders expressed their commitment "to upholding the price caps on Russian oil and petroleum products" and stressed their readiness "to counter evasion of these caps while avoiding spillover effects and maintaining global energy supply."

That said, the document does not list any specific sanctions measures planned to be implemented at the G7 level.

This year, Japan is presiding over the G7, the leaders of which are convening in Hiroshima on May 19-21.

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