G7 countries, which include the US, Canada, Britain, France, Italy, Germany, and Japan, have decided against implementing a complete ban on exports to Russia, Bloomberg reports.
Instead, they have chosen to extend existing restrictions on supplies. The draft statement to be adopted at the Hiroshima summit by G7 leaders does not propose a ban on all exports, except for medicine, agricultural products, and food.
Rather than an embargo, the G7 aims to expand the list of prohibited items that are vital for Russian military equipment. This includes industrial equipment, electrical engineering, and other goods used in industrial production, construction, transport, and business services.
Under the current regime, all goods are permitted for export to Russia, except those subject to sanctions. The primary focus of the G7 countries is to close loopholes in existing sanctions that enable third countries to assist Russia in evading the restrictions.
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