G7 countries pledge to stop Russia oil imports

The G7 club of wealthy nations committed Sunday to phasing out its dependency on Russian oil and issued a scathing statement accusing President Vladimir Putin of bringing “shame” on Russia with his invasion of Ukraine.

The statement from the Group of Seven — France, Canada, Germany, Italy, Japan, Britain and the United States — did not specify exactly what commitments each country will make to move away from Russian energy.

But it was an important development in the ongoing campaign to pressure Putin by crippling Russia’s economy, and underscores the unity of the international community against Moscow’s actions.

“We commit to phase out our dependency on Russian energy, including by phasing out or banning the import of Russian oil. We will ensure that we do so in a timely and orderly fashion, and in ways that provide time for the world to secure alternative supplies,” the joint statement said.

“This will hit hard at the main artery of Putin’s economy and deny him the revenue he needs to fund his war,” the White House said.

The announcement came as the G7 held its third meeting of the year on Sunday via video conference, with Ukrainian President Volodymyr Zelensky participating.

The West has so far displayed close coordination in its announcements of sanctions against Russia, but has not moved at the same pace when it comes to Russian oil and gas.

The United States, which was not a major consumer of Russian hydrocarbons, has already banned their import.

But Europe is far more reliant on Russian oil. The European Union has already said it is aiming to cut its reliance on Russian gas by two-thirds this year, though Germany has opposed calls for a full boycott, with member states continuing intense negotiations Sunday.

The G7 also slammed Putin personally for his actions in Ukraine.

The Russian president’s “unprovoked war of aggression” against its Eastern European neighbor has brought “shame on Russia and the historic sacrifices of its people,” the group said in its…