Alexander Topchy16:39, 20.04.23
This idea stems from the fact that some countries continue to export large volumes of goods to Russia.
Some of Ukraine’s key allies, including the US, are considering a total ban on most exports to Russia . This can lead to a significant increase in economic pressure on the Russian Federation due to the war unleashed by it.
According to Bloomberg , citing sources familiar with the matter, G7 officials are discussing the idea ahead of a summit of the leaders of these states, which will be held in Japan in May. The aim is to involve the countries of the European Union in such pressure. The idea is still under discussion and may change.
The proposed approach would reverse the current sanctions regime, banning all exports except for specified exemptions, the sources said. The existing criteria allow any export, except when it is subject to sanctions.
If the G7 leaders approve this move at the summit, then it will be necessary to agree on what exactly will be included in the list of exceptions. Most likely, medicines and agricultural products, including food, will fall into it, one of the sources said.
In the G7, non-medical and non-agricultural goods that may be affected by a total ban on imports into the Russian Federation include cars, chocolate, beer, shoes, flowers and cosmetics.
But there are potentially serious barriers to implementation, notes Bloomberg. “In order for the new criteria to come into force in the EU, they must be approved by all member countries. This will cause heated debate, given the likely backlash from companies that still export goods to Russia, as well as the risk of retaliation from Moscow,” – writes the publication.
If a near-complete export embargo is implemented, most of the remaining trade flows from these countries to Russia will disappear.
A spokesman for the US National Security Council declined to comment on the prospects for such a move to Bloomberg.
(c)UNIAN 2023
What a sick joke!
There should be a TOTAL trade, diplomatic and travel embargo of Russia. You either support Ukraine, or you help RuSSia to kidnap, rape, torture and murder Ukrainian children. What’s it to be fuckwits?
FMCG multinationals are still trading in RuZZia. Not only that, they are manufacturing, marketing and distributing inside the shithole; employing thousands and providing $billions of tax revenue to help putler murder Ukrainians.
What a fucking lash-up.
Never in the field of human conflict has so little been done to help so many people suffering from so much genocide from such a huge Nazi regime.
Georgia; run by a RuZZian oligarch with a Georgian name: Bidzina Ivanishvili, is providing a lifeline for putlerstan so that all their favourite consumer products can enter from Turkey via Georgia.
Georgian border regions are swamped with mile after mile after mile of trucks loaded with everything wealthy
putinazis need to stock their kitchens, bathrooms and gardens.
Nothing much will come of it. A total sanction regime should’ve been implemented the minutes the runt sent his cockroach horde into Ukraine last year. But, as usual, the West just lollygagged around. This time, it’ll be the same … if this idea even gets beyond the discussion stage.