'Western Economic Suicide': G7 Bans Imports Of Russian Oil

WESTERN ECONOMIC SUICIDE: G7 bans imports of Russia oil, including to U.S., as punishment for Putin’s invasion of Ukraine

Ethan Huff

A new package of sanctions aimed at punishing Russia for its invasion of Ukraine stands to decimate Western economies.

The G7 nations, including the United States, announced on Sunday that from now on, no more Russian oil will be allowed into the U.S., Canada, France, Germany, Italy, Japan, the United Kingdom, or the European Union, which has 27 member states.

“First, we commit to phase out our dependency on Russian energy, including by phasing out or banning the import of Russian oil,” the G7 statement explains.

“We will ensure that we do so in a timely and orderly fashion, and in ways that provide time for the world to secure alternative supplies.”

The statement goes on to read that G7 member nations and their “partners” will “ensure stable and sustainable global energy supplies and affordable prices for consumers, including by accelerating reduction of our overall reliance on fossil fuels and our transition to clean energy in accordance with our climate objectives.”

Note the use of the word “sustainable” and the phrase “in accordance with our climate objectives.” Depending on who you talk to, these concepts imply vast reductions in human population and global economic activity – a Great Reset, if you will.

The G7 also wants to target Russian banks, as well as the country’s entire financial system. There are also plans to target Russia’s “financial elites and family members who support President Putin in his war efforts and squander the resources of the Russian people.”

Speaking of squandering resources, the Biden regime continues to send billions of dollars in “aid” over to Ukraine, even as Americans suffer under crippling inflation, job losses and now food shortages.

Back in April, the United States, Great Britain and the European Union all imposed new measures that they say are designed to cripple Russia and force it to withdraw from Ukraine. Those measures have not yet led to this result.

The UK is planning to end all imports of not only Russian oil but also Russian coal by the end of the year, with gas to follow not long after that. Imports of Russian iron and steel products will also be banned.

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