The US has informed its G7 partners that any easing of sanctions on Russia would be temporary, as the country responds to a sharp rise in energy prices amid the war in Iran, said EU Economy Commissioner Valdis Dombrovskis, writes UNN with reference to Bloomberg.
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These assurances came on Monday during a phone call between G7 finance ministers, which took place shortly after the Trump administration granted India permission to purchase Russian oil stored at sea.
The US "stressed" that the decision regarding India "was very limited both in time and in the scope of measures," said EU Economy Commissioner Valdis Dombrovskis, who joined the conversation.
"They do not expect this to have a significant impact on Russian oil revenues," he added at a press conference on Monday evening.
The lifting of sanctions on India raised fears among Europeans that the US might ease its restrictions on Russia just as Moscow's economy is showing signs of significant strain. US Treasury Secretary Scott Bessent also hinted at the possibility of lifting additional sanctions.
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However, Dombrovskis emphasized that the US "generally shares" Europe's desire to maintain economic pressure on Russia, despite the war with Iran, which has led to rising oil and gas prices.
Russian oil revenues fell sharply earlier this year due to lower global prices and sanctions, which led to significant discounts on the country's oil.
But oil prices are now reaching heights not seen since Russia launched a full-scale war in Ukraine, giving Moscow a chance to increase its revenues, the publication notes.
"It is important that we do not now ease pressure on Russia and do not help Russia replenish its war chest by using the situation of inflated oil and gas prices," Dombrovskis said.
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