Japan and the EU are resisting a US plan to undertake the controversial measure, the paper has claimed
A US proposal for G7 nations to introduce an entire ban on exports to Russia has met with robust opposition from the EU and Japan, the Financial Times reported on Tuesday, citing unnamed officers.
According to the outlet, a draft assertion ready for a three-day G7 summit in Hiroshima in May features a daring proposal to interchange the present sector-by-sector penalties in opposition to Moscow with a full export ban, albeit with exemptions for areas akin to agricultural and medical merchandise.
The US is reportedly pushing the plan amid issues that current sanctions include loopholes that permit Moscow to proceed importing expertise from the West.
However, lawmakers from Japan and EU member states reportedly urged in a preparatory assembly final week that the measure could be not possible.
“From our perspective it is simply not doable,” stated one official who spoke to the FT on situation of anonymity.
Last week, Bloomberg reported that G7 nations have been discussing a possible outright ban on most exports to Russia as a part of a broader agenda to tighten financial strain. Since February 2022, the EU alone has adopted 10 packages of anti-Russian sanctions in response to Moscow’s army operation in Ukraine.
READ MORE: Ex-president warns G7 in opposition to banning exports to Russia
Kremlin spokesman Dmitry Peskov has warned in opposition to a blanket export ban, arguing that it may lead to a full-scale world financial disaster. Former Russian president and present deputy chairman of the National Security Council, Dmitry Medvedev, warned that Moscow may stop the Black Sea grain deal if the G7 imposes a complete ban on exports to Russia.
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(RT.com)