The European Union has expressed disapproval of the latest US waiver of sanctions on Russian oil, announced while G7 finance ministers were meeting, as it aims to help lower energy prices that have skyrocketed since the US and Israel launched attacks on Iran in February, effectively shutting the Strait of Hormuz to Gulf oil tanker traffic.
The European Union criticised Tuesday the latest US waiver of sanctions on Russian oil, announced while G7 finance ministers were meeting to reach a common response to multiple economic challenges.
Washington's move aims to help lower energy prices that have skyrocketed since the US and Israel launched attacks on Iran in February, effectively shutting the Strait of Hormuz to Gulf oil tanker traffic. But EU economics commissioner Valdis Dombrovskis denounced the extensions, which have given Moscow a financial boost as it pursues its war against Ukraine.
"From the EU point of view, we do not think that this is a time to ease pressure on Russia," Dombrovskis told journalists while arriving for a second day of G7 talks in Paris. "In fact, Russia is the one which is gaining from the war in Iran and the increase in fossil fuel prices," he said. "If anything, we would need to strengthen the pressure.
" US Treasury Secretary Scott Bessent is in Paris for the Group of Seven talks hosted by France, which currently chairs the group's rotating presidency. "Secretary Bessent was reassuring us that this is a temporary measure, but we know that it's already a second extension of the measure which initially was meant to last only 30 days," Dombrovskis said. French Finance Minister Roland Lescure said a joint statement would nonetheless be made following talks that are to wind up Tuesday.
"We've had extremely frank discussions between people who do not necessarily agree on everything, but who are able to talk about everything," he told journalists. The talks aim to keep dialogue open as trade feuds spurred by US President Donald Trump's tariff blitz compound geopolitical tensions.
European Union Criticised US Sanctions Russian Oil Latest Waiver Criticised Eus Point Of View Increase In Fossil Fuel Prices Europe Gov't Oil Prices US Treasury Secretary Scott Bessent French Finance Minister Roland Lescure Iran G7 G7 Talks In Paris Paris Host President Donald Trump Trade Feuds Tensions Couple
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tensions rise after Trump signals military pressure on IranRegional tensions escalate after Donald Trump hints at increasing military pressure on Iran.
Read more »
Pakistan seeking another round of US-Iran talks in Islamabad: PM ShehbazPM Shehbaz Sharif expressed hope for lasting peace through US-Iran talks, saying Pakistan is playing a trusted diplomatic role amid regional tensions
Read more »
Oil touches 2-week high after drone attack on UAE nuclear power plantOil prices surged as tensions over Iran escalated, with attacks on Gulf infrastructure, stalled peace efforts and possible U.S. military action raising fears of supply disruptions
Read more »
ایران پر نئے حملے کی تیاری؟ متعدد امریکی کارگو طیارے اسلحہ لے کر اسرائیل پہنچ گئےUS Cargo Planes Deliver Ammunition to Israel Amid Fears of Renewed Iran Conflict
Read more »
Qatar reiterates backing Pakistan’s mediation efforts in US-Iran tensionsQatar’s PM Sheikh Mohammed bin Abdulrahman Al Thani backs Pakistan’s mediation efforts aimed at easing US-Iran tensions and promoting regional peace.
Read more »
Putin calls Russia-China ties a 'stabilising force' ahead of Xi talksVladimir Putin praises Russia-China relations as a stabilising force ahead of talks with Xi Jinping, highlighting growing cooperation amid global tensions.
Read more »