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Reuters

Politics

Jeff Mason and Steve Holland

G7 to phase out Russian oil, U.S. sanctions Gazprombank execs over Ukraine war

G7 Ukraine Joe Biden Vladimir Putin Volodymyr Zelenksyy Russia Moscow White House

FILE PHOTO: U.S. President Joe Biden delivers remarks on economic growth, jobs, and deficit reduction in the Roosevelt Room at the White House in Washington, U.S., May 4, 2022. REUTERS/Evelyn Hockstein

Group of Seven (G7) nations committed on Sunday to ban or phase out imports of Russian oil and the United States unveiled sanctions against Gazprombank executives and other businesses to punish Moscow for its war against Ukraine.

The move represents the latest attempt by the West to put pressure on Russian President Vladimir Putin for his country's invasion of Ukraine and the deadly aftermath that ensued.

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