G-7 Eyes "Range of Approaches" over Russian Sanctions

Politics Economy

Washington, Aug. 2 (Jiji Press)--The Group of Seven foreign ministers said Tuesday that they are considering "a range of approaches" to prevent Russia from raising funds for its invasion of Ukraine, including a price cap on Russian oil.

In a joint statement, the ministers said that they "further condemn Russian attempts to weaponize its energy exports and use energy as a tool of geopolitical coercion."

"We continue to explore further measures to prevent Russia from profiting from its war of aggression and to curtail Russia's ability to wage war," the statement said.

"We remain committed to considering a range of approaches" to this end, the statement added.

At a summit in June, the G-7 major powers agreed to consider imposing such a price cap as a sanction against Russia in hopes of reducing their energy dependence on the resources-rich nation.

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