April 25, 2023

EU and Japan Say "Nyet" to the US


EU and Japan Say "Nyet" to the US
President Donald Trump at a working session at the G7 Summit, June 8, 2018. Shealah Craighead, The White House, Wikimedia Commons.

The Financial Times reported that the European Union and Japan declined to endorse a US proposal to the G7 nations for a complete ban on exports to Russia.

According to Bloomberg, the US administration was planning to present the proposal during the G7 summit in Hiroshima, which takes place from May 19 to 21. The proposal aimed to impose an embargo on almost all exports to Russia except for medicines and foodstuffs.

Under the current sanctions regime, any goods not prohibited can be exported to Russia. The Financial Times cited sources stating that, at the preparatory meeting for the G7 summit, representatives from the EU and Japan deemed the expanded ban untenable.

In a recent statement, Deputy Chairman of the Security Council of the Russian Federation Dmitry Medvedev warned that a complete ban on exports would result in Russia pulling out of the critical grain deal. On April 23, Medvedev expressed his disapproval of the G7's proposal to impose a total export ban on Russia via his Telegram channel, referring to the idea as "wonderful" for the G7 "idiots."

He went on to suggest that such a ban would prompt Russia to halt its import of goods from the G7 in sensitive categories, leading to the termination of the grain deal and other arrangements.

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