G-7 Restricts More Goods But Avoids Near-Total Russia Export Ban

Group of Seven nations have decided against imposing a near-outright ban on exports to Russia and will instead widen existing restrictions on key goods, according to people familiar with the matter.

G-7 envoys had discussed flipping the existing sanctions regime around, with all exports barred unless exempted. Under the current criteria all exports are allowed unless sanctioned. The exemptions would have included medicines, agricultural goods and food.

However, the latest draft of a statement that G-7 leaders are set to adopt at their summit in Hiroshima that started Friday doesn’t include the provision.

The move would have been too complicated for some members to implement given different legal and regulatory systems, including those in the European Union, the people said. Such a near-total ban would also have required the agreement of all EU states.

--------

Bloomberg Quicktake brings you global social video spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.

Connect with us on…

[hostis]

Keep rolling Russia it’s your safety it’s your destiny and at least it’s just a ban in your country and not a Kill list like the Ukraine Nazis!!..👀