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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

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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.

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.

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

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

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