Facebook Pixel

G7 leaders confirm plans to phase out Russian oil while Hungary continues to hinder them

The leaders of the G7 countries held a virtual meeting on May 8

The leaders of the G7 countries held a virtual meeting on May 8

The leaders of the G7 countries held a virtual meeting on May 8 that was attended by President Volodymyr Zelenskyy. During the meeting, they confirmed their commitment to phase out the import of Russian oil, the US White House reports.

"Today, the G7 have expressed their commitment to phasing out Russian oil import or even banning it," the official statement reads.

The leaders agreed to work jointly to secure a stable global energy supply while stepping up efforts to reduce dependence on fossil fuels.

"Abandoning Russian oil imports is a very difficult decision, but the unity of the G7 is most important right now," Japanese Prime Minister Fumio Kishida stated on May 9.

At the same time, he noted that projects on Sakhalin are vital for Japan's energy security. "We will take phase-out steps in a manner that minimizes adverse impact on the lives and business activities of the Japanese."

The government and Japanese companies own stakes in the Sakhalin-1 and Sakhalin-2 natural gas and oil projects.

British Shell withdrew from the Sakhalin-2 project just a few days after the start of a special operation in Ukraine. The American company Exxon Mobil also announced its withdrawal from the Sakhalin-1 project.

British Shell withdrew from the Sakhalin-2 project just a few days after the start of a special operation in Ukraine. The American company Exxon Mobil also announced its withdrawal from the Sakhalin-1 project.

At the same time, the permanent representatives of the EU countries failed to reach a consensus on May 8 regarding a ban on the import of Russian oil. The main reason is Hungary’s disagreement. Negotiations are expected to resume in the coming days.

Recall, US First Lady Jill Biden was on a visit to Uzhhorod on May 8.

Thank 🎉
Comments
All News