Russian crude oil

G7 Refuses to Ease Russia Sanctions Despite Iran Conflict Concerns

Despite the escalating conflict involving Iran and subsequent US sanctions waivers for India to secure Russian crude, G7 leaders have affirmed their commitment to maintaining existing sanctions on Russia. French President Emmanuel Macron and European Commission President Ursula von der Leyen emphasized that the situation in Iran will not diminish support for Ukraine or weaken the G7’s stance. This unified position was reinforced by the G7’s support for the International Energy Agency’s decision to release oil from reserves to stabilize global energy prices.

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