TASS: G7 countries did not discuss a complete ban on the export of goods to Russia

The G7 countries have not yet discussed plans for a complete ban on the export of goods to Russia, informed TASS with reference to a high-ranking representative of the EU.

“There was no discussion on a total export ban. This is an idea that has been floating around for a while, but was not discussed at the G7 ministerial meeting in Japan,” the source said.

The source also noted that there is no clause on a complete embargo in the final document of the ministerial meeting of the G7 countries.

On April 20, Bloomberg reported that the G7 countries are considering imposing a near total ban on exports to Russia. The interlocutors of the agency explained that officials of the G7 countries are discussing this idea ahead of their summit on May 19-21 in Japan. If the G7 approves the corresponding decision, similar measures will be introduced by the member states of the European Union. Now, by default, export is allowed, and restrictions apply only to certain products.

April 21, Press Secretary of the President of the Russian Federation Dmitry Peskov declaredthat the steps being discussed by Western countries to completely ban the export of goods to Russia can only lead to “an increase in the trend of the global economic crisis.” The Kremlin said it was monitoring discussions of such a ban “carefully.”

The British newspaper Financial Times earlier reported that European officials have almost exhausted the potential for further sectoral sanctions against Russia. According to FT interlocutors, the new 11th package of sanctions can only include a certain number of new individuals and legal entities, and will also be aimed at curbing circumvention of already introduced restrictions.

Director of the Russian International Affairs Council (RIAC) Ivan Timofeev told Vedomosti that a complete export ban on Russia by Western countries is technically feasible, but “the added value of such a ban would be extremely low.”