Leaders of the G7 countries unanimously confirmed their intention to lift or ease sanctions against Russia, despite the sharp rise in oil prices and disruptions in energy supplies due to the escalating conflict in the Middle East.
French President Emmanuel Macron made this statement following a videoconference of G7 heads of state and government held yesterday under the French presidency.
“We decided at the G7 that the current situation in no way justifies the lifting of existing sanctions against Russia. This should not weaken our support for Ukraine or our principled position on sanctions pressure on Moscow,” Macron emphasized at the press conference.
The issue has become particularly pressing given the blockage of the Strait of Hormuz and the record spike in oil prices above $119 per barrel, caused by the US-Israel war with Iran. Some countries had previously considered the possibility of temporarily easing energy sanctions to stabilize markets, but this scenario was rejected following the discussion.
European Commission President Ursula von der Leyen and European Council President António Costa also reiterated in a joint statement: “Now is not the time to ease pressure on the Kremlin. The priority is ensuring stable energy supplies and limiting Russia’s revenues from hydrocarbon exports.”
The G7 includes the United States, Canada, the United Kingdom, Germany, France, Italy, and Japan. Sanctions against Russia have been in place since 2022 and have been repeatedly tightened; they currently cover the financial sector, energy, technology, transport, and a number of individuals and companies.
Experts note that the G7’s position was a response to speculation about a possible partial lifting of restrictions amid the global energy crisis. G7 officials emphasized that support for Ukraine remains an absolute priority, and sanctions remain a key deterrent.