French President Emmanuel Macron on Tuesday accused Russia of trying to undermine the world order by obstructing the flow of food and energy. He kicked off the G7 summit in Germany with the statement, “Russia cannot and must not win this conflict,” before leaving for Spain to attend tomorrow’s NATO summit, which will also address Russia’s invasion of Ukraine.
President Macron of France accuses Russia.
As the Russian invasion drags on, the heads of the world’s wealthiest democracies took a united stand to support Ukraine “for as long as it takes” and announced that they would explore drastic measures to limit the Kremlin’s revenue from the oil sales financing the war.
The Group of Seven summit in Germany concluded Tuesday with a statement confirming their intention to impose heavy economic sanctions on Moscow immediately and continue for as long as necessary.
The leaders also decided to ban the import of Russian gold and increase aid to nations facing food shortages due to the Black Sea blockade on grain supplies from Ukraine.
Theoretically, the Russian oil price cap would work by banning service providers such as shippers or insurers from dealing with oil priced above a certain threshold. That could work because most service providers are based in the European Union or the United Kingdom, making them susceptible to sanctions. But for it to work, it must involve as many consuming nations as possible, especially India, where refiners have been buying up the cheap Russian oil that Western traders have refused.
Source: Laatste Nieuws