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 a whole ban on exports to Russia has met with robust opposition from Japan and members of the EU, 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 towards Moscow with a full export ban, albeit with exemptions for areas comparable to agricultural and medical merchandise.
The US is reportedly pushing the plan amid considerations that present sanctions comprise loopholes that permit Moscow to proceed importing expertise from the West.
However, lawmakers from Japan and EU member states reportedly steered in a preparatory assembly final week that the measure could be unattainable.
“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 stress. Since February 2022, the EU alone has adopted 10 packages of anti-Russian sanctions in response to Moscow’s navy operation in Ukraine.
READ MORE: Ex-president warns G7 towards banning exports to Russia
Kremlin spokesman Dmitry Peskov has warned towards a blanket export ban, arguing that it may end in a full-scale world financial disaster. Former Russian president and present deputy chairman of the National Security Council, Dmitry Medvedev, steered that Moscow may stop the Black Sea grain deal if the G7 imposes a complete ban on exports to Russia.
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