G-7 to Step Up Action on Russia Fleet, Energy, Metals
- Statement includes criticism of China, concern on Venezuela
- G-7 summit taking place this week in the south of Italy
G-7 leaders during their family photo at the Borgo Egnazia resort in Savelletri, Italy, on June 13.
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Group of Seven leaders meeting in Italy this week will pledge to tighten enforcement of their price cap on Russian oil, choke the Kremlin’s future energy projects and reduce Moscow’s revenues from metals, according to a statement seen by Bloomberg.
“We will continue to apply significant pressure on Russian revenues from energy and other commodities,” the statement, which is expected to be published on Friday, says.