• $ 1.7
  • € 1.9777
  • ₽ 0.021556
  • ₺ 0.0405
  • £ 2.2526

G7 moves to cut Russia’s oil revenues

G7 moves to cut Russia’s oil revenues
02.10.2025 10:00

Finance ministers from the Group of Seven (G7) agreed to step up pressure on Russia, according to a joint statement published by the Canadian government.

The ministers pledged coordinated measures to meet Ukraine’s financial needs, including the use of frozen Russian assets under their jurisdictions. They also agreed to tighten restrictions on Russian oil exports, describing them as Moscow’s key revenue stream.

“We will act against those increasing purchases of Russian oil or enabling sanctions evasion,” the statement said.

Bloomberg reported that the draft document also envisions new sanctions on Russia’s energy, financial and defense sectors, as well as measures targeting states and entities supporting Moscow’s war effort.

Separately, the European Commission announced a €4 billion disbursement to Ukraine under its macro-financial assistance program, with €2 billion earmarked for drone production.

Similar news
Similar news
Ilsky oil refinery in southern Russia halts operations amid economic and logistics challenges
World 15:00
Ilsky oil refinery in southern Russia halts operations amid economic and logistics challenges
Russia sees rise in number of billionaires
World 14:30
Russia sees rise in number of billionaires
Former Kazakh presidential adviser Yerzhan Babakumarov beaten to death in Astana
World 14:00
Former Kazakh presidential adviser Yerzhan Babakumarov beaten to death in Astana
Trump, Xi hold first in-person talks since Trump’s second term began
World 11:30
Trump, Xi hold first in-person talks since Trump’s second term began
U.S. quietly pays $25 million in WTO dues after eight-month freeze
World 11:00
U.S. quietly pays $25 million in WTO dues after eight-month freeze
U.S. expects Serbia to push Gazprom out of NIS stake – Bloomberg
World 09:49
U.S. expects Serbia to push Gazprom out of NIS stake – Bloomberg
Yerevan plans to buy India-made Su-30 fighter jets
World 09:29
Yerevan plans to buy India-made Su-30 fighter jets
Anti-migrant protests erupt in Montenegro after stabbing involving Turkish nationals
World 18:00
Anti-migrant protests erupt in Montenegro after stabbing involving Turkish nationals
Putin praises Russia’s “Burevestnik” nuclear-powered missile and its civilian potential
World 17:00
Putin praises Russia’s “Burevestnik” nuclear-powered missile and its civilian potential
Anews TV

Our official Youtube channel

Subscribe