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G7 countries pledge to phase out imports of Russian oil

Tags: Russia-Ukraine International News

The Group of Seven (G7) countries have pledged to ban or phase out Russian oil imports over the Ukraine dispute.

  • The announcement came as the G7 held its third meeting this year via video conference, which was also attended by Ukraine's President Volodymyr Zelensky.

  • The meeting was called to discuss support for Ukraine, and additional measures against Moscow, including on energy.

  • G7 leaders have personally criticised President Vladimir Putin for his actions in Ukraine.  

  • The leaders celebrated the end of World War II in Europe following the surrender of German forces to the Allied Powers on 9 May 1945.

  • Russia has been accused of violating international rules-based order, in particular the United Nations Charter.

  • All participants were called upon to join the G7's support for the Ukrainian people and refugees and help rebuild Ukraine. 

  • About G7

  • The G7 or the Group of Seven is a group of the seven most advanced economies.

  • The seven countries are Canada, the USA, UK, France, Germany, Japan and Italy.

  • It was formed in 1975.

  • G7 countries meet annually to discuss issues of common interest like global economic governance, international security and energy policy.

  • All the G7 countries and India are a part of G20.

  • The G7 does not have a fixed headquarters.

  • The UK currently chairs the G7 and has invited India along with Australia, the Republic of Korea and South Africa as guest countries for the G7 summit.

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