The leaders of the Group of Seven declared the possibility of introducing a ban on the transportation of Russian oil, which was sold above a certain price. This is stated in the communiqué after the summit in Germany.
"By taking immediate measures to secure energy supplies and halt the rise in energy prices caused by extraordinary market conditions, we will not yield to our climate and biodiversity goals, including the energy transition, and our commitments to gradually reduce our dependence on Russian energy, including by phasing out or banning imports of Russian coal and oil," the document said.
As for oil exports, it specifies, a number of approaches will be considered, including options for a possible complete ban on all services allowing Russian oil and petroleum products to be transported around the world, "unless oil is purchased at a price to be agreed upon in consultation with international partners."
"In considering this and other options, we will also consider mitigation mechanisms along with our restrictive measures to ensure that the most vulnerable and affected countries retain access to energy markets, including from Russia," the document notes.