G7 sanctions to target Russian energy and exports

Leaders of G7 nations are set to push through new sanctions targeting Russia’s energy sector at their May 19-21 meeting, as well as third-party countries allegedly helping Moscow evade existing measures.

US officials expect G7 partners to adopt President Biden’s demands to blacklist all goods sold to Russia unless they are specifically on approved lists, rather than the ‘innocent until proven guilty’ reverse approach.

There remains a split on allies on how to adopt anti-Russia sanctions, with one top German government official insisting “the sometimes-discussed approach of ‘we ban everything first and allow exceptions’ will not work in our view.”