Japan, EU say US plans to ban all exports to Russia 'simply not do-able'

United State's proposal for the Group of Seven (G7) countries to ban all exports to Russia was met with resistance, ahead of a summit of the bloc.

As per a Financial Times report, the European Union (EU) and Japan pushed back against the proposal during negotiations ahead of a summit of the world's most advanced economies.

According to documents seen by the Financial Times, G7 leaders are drafting a statement for their meeting in Hiroshima next month. This statement includes a US proposal for a pledge to replace the current sector-by-sector sanctions regime against Russia with a complete export ban, with a few exemptions for agricultural, medical and other products.

The pledge is reportedly prompted by Washington's frustration over the loopholes in the existing system that allowRussia to continue to import Western technology.

During a preparatory meeting last week, EU and Japan however said that the move isn't feasible. Speaking on the condition of anonymity, one of the officials said that from their perspective "it is simply not do-able."

The US said that it would "continue to look for ways to hold Russia accountable."

The disagreement as per FT underscores the lack of additional options available to G& leaders as the Western nations seek to penalise Russia for its invasion of Ukraine that began 15 months back. Since then, a number of sanction measures designed to cut off Moscow's economy from the global markets and deprive it of Western imports of technology, machinery and finance.

(With inputs from agencies)

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