Restrictions on Russia's energy revenues, sanctions and more: statement by G7 foreign ministers released

The foreign ministers of the Group of Seven countries will continue to oppose any attempts to avoid and circumvent sanctions and export restrictions by Russia. The ministers also intend to continue to impose sanctions against Russia and individuals and companies from third countries that assist it. This is stated in the communiqué following the meeting of the Group of Seven foreign ministers on the Italian island of Capri, UNN reports.

We remain committed to the full implementation and enforcement of our sanctions against Russia and to taking new measures as necessary. We will continue to oppose, in close cooperation with third countries, any attempts to avoid or circumvent sanctions and export restrictions. We are appealing to financial institutions to refrain from supporting Russia's military-industrial base, and we will take appropriate and consistent steps with our legal systems. We will impose additional sanctions on companies and individuals in third countries that assist Russia in acquiring tools and other equipment that contribute to Russian weapons production or military-industrial development 

The Foreign Ministers will also continue to put significant pressure on Russia's revenues from the energy and other sectors and take steps to strengthen compliance and enforce the oil price cap.

We will continue to take steps to limit Russia's future energy revenues. We will continue to impede the future development of Russia's energy projects and disrupt the development of alternatives for energy transportation and other services. We will continue to try to reduce Russia's revenues from metal sales

Recall

Ministers of the G7 countries have statedthat they will study the possibilities of using the immobilized Russian assets to support Ukraine and will make recommendations on all possible directions and options before the summit in Puglia (June 13-15).