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    Home > Headlines > G7 nations say they will target those continuing to increase Russian oil purchases
    Headlines

    G7 nations say they will target those continuing to increase Russian oil purchases

    Published by Global Banking and Finance Review

    Posted on October 1, 2025

    1 min read

    Last updated: January 21, 2026

    The image showcases the Christophe De Margerie tanker docking at Russia's Arctic LNG 2, highlighting ongoing LNG export challenges amidst U.S. sanctions.
    Fourth sanctioned LNG tanker, Christophe De Margerie, at Russia's Arctic LNG 2 plant - Global Banking & Finance Review
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    Tags:import and exportfinancial communityeconomic benefitsfinancial markets

    Quick Summary

    G7 finance ministers aim to curb Russian oil purchases by targeting entities involved, using trade measures to pressure Russia.

    Table of Contents

    • G7's Strategy to Pressure Russia
    • Importance of Trade Measures
    • Details from the Virtual Meeting

    G7 Finance Ministers to Target Continued Russian Oil Purchases

    G7's Strategy to Pressure Russia

    WASHINGTON (Reuters) -The Group of Seven nations' finance ministers said on Wednesday they will take joint steps to increase pressure on Russia by targeting those who are continuing to increase their purchases of Russian oil and those that are facilitating circumvention.

    Importance of Trade Measures

    The G7 finance ministers also said they agreed on the importance of trade measures, including tariffs and import and export bans, in efforts to cut off Russian revenues due to Moscow's invasion of Ukraine.

    Details from the Virtual Meeting

    The joint statement followed a virtual meeting of the finance ministers on Wednesday.

    (Reporting by Kanishka Singh in Washington; Editing by Chris Reese)

    Key Takeaways

    • •G7 finance ministers plan to target increased Russian oil purchases.
    • •Joint steps will be taken to pressure Russia.
    • •Trade measures like tariffs and bans are considered.
    • •The initiative aims to cut off Russian revenues.
    • •The decision followed a virtual meeting of finance ministers.

    Frequently Asked Questions about G7 nations say they will target those continuing to increase Russian oil purchases

    1What is the main topic?

    The main topic is the G7's strategy to target increased Russian oil purchases to pressure Russia.

    2What measures are the G7 considering?

    The G7 is considering trade measures, including tariffs and import/export bans.

    3Why is the G7 targeting Russian oil purchases?

    The G7 aims to cut off Russian revenues due to Moscow's invasion of Ukraine.

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