G-7 Nations Vow to Stop Importing Russian Oil

Berlin, May 8 (Jiji Press)--Leaders of the Group of Seven major powers on Sunday agreed to phase out or ban the import of Russian oil and introduce other additional sanctions on Russia over the country's invasion of Ukraine.

Holding an online meeting on the day when Europe marked the anniversary of the end of World War II, the G-7 leaders also pledged to continue offering military and financial assistance to Ukraine.

In an independent move, the United States decided to impose export restrictions on Russia's industrial sector.

The G-7, which groups Britain, Canada, France, Germany, Italy, Japan and the United States plus the European Union, moved to apply further pressure on Russia just before Moscow commemorates the former Soviet Union's victory over Nazi Germany on Monday.

In a joint statement released after their meeting, the G-7 leaders said that Russian President Vladimir Putin's actions "bring shame on Russia and the historic sacrifices of its people" paid during the war against Nazi Germany.

[Copyright The Jiji Press, Ltd.]