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G7 Targets Russian Oil Buyers with New Sanctions

10/2/2025

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Summary

Story summary

The Group of Seven (G7) finance ministers announced actions to pressure Russia over its invasion of Ukraine.
They target buyers of Russian oil and sanctions evaders with tariffs and bans.
The United States urged tariffs on India and China, unnamed in the statement.
The G7 aims to phase out remaining imports, especially hydrocarbons, with cooperation beyond the G7.

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Story summary

The Group of Seven (G7) finance ministers announced actions to pressure Russia over its invasion of Ukraine.
They target buyers of Russian oil and sanctions evaders with tariffs and bans.
The United States urged tariffs on India and China, unnamed in the statement.
The G7 aims to phase out remaining imports, especially hydrocarbons, with cooperation beyond the G7.