Group of Seven (G7) nations, on Sunday, committed to phase-out imports of Russian oil. And to punish Russia for its invasion of Ukraine, the US unveiled sanctions against Gazprombank executives and other businesses. The move is the latest attempt by the West to put pressure on Russian President Vladimir Putin.
"We commit to phase out our dependency on Russian energy, including by phasing out or banning the import of Russian oil. We will ensure that we do so in a timely and orderly fashion," G7 leaders said in a joint statement, a Reuters report reads. "We will work together and with our partners to ensure stable and sustainable global energy supplies and affordable prices for consumers."
The G7 leaders and President Putin joined in a call with Ukrainian President Volodymyr Zelenskyy to discuss support for Ukraine in the ongoing war and additional measures against Moscow. The US, in the meantime, imposed 2,600 visa restrictions on Russian and Belarusian officials. And also imposed sanctions on three Russian television stations, and banned Americans from providing accounting and consulting services to Russians.
Biden announced a $33 billion-worth package of arms and aid for Ukraine, a step that increases the US' participation in the war. Before the war, Biden wanted to avoid a direct clash with Russia and so it was unthinkable that the US would send assistance on a large scale like this to wound its nuclear superpower rival.
While Biden has vehemently condemned Russia's invasion, he faces pressure to calculate to the extent he can go to put pressure on Putin without crossing lines that might cause the war to take a disastrous turn.