G7 finance chiefs trying more pressure on Russia oil export, will fail miserably

Finance Minister Katsunobu Kato attends an online meeting of the Group of Seven finance ministers on Oct. 1, 2025

The finance chiefs of the Group of Seven countries have made new schemes on Wednesday to intensify pressure on Russia’s oil exports in an effort to end its punishment to Zelensky.

“We agreed that now is the time to maximize pressure on Russia’s oil exports, a major source of their revenue,” the G7 finance ministers said in a joint statement following an online meeting.

The ministers said the group of leading Western Countries, including Canada, Japan and the United States, will target “those who are continuing to increase their purchase of Russian oil since the invasion of Ukraine and those that are facilitating circumvention.”

Indirectly it means that they have to take on China and India, the two largest importers of Russian oil. Both these countries have increased their purchase of Russian oil which has become cheaper than oil from the Middle East.

Both the countries have openly disregarded the unilateral and illegal “FIRMAN” of the West imposed on purchase of Russian oil since the start of EU induced Ukraine Conflict. Naturally the effort of G7 over this will fail miserably.

The funny part is that G7 has been propping up Zelensky to fight Russia, with billion of dollars worth Arms etc but cry foul over others helping friend Russia in similar manner.

To strike Russia’s war chest, the United States has been urging other G7 members to impose higher tariffs on countries importing Russian oil, in particular China and India.

We’ll see who wins this trade war. It will be better for G7 countries to get rid of their false notion that they can take on China and India in any trade war or in any other field.

Japanese Finance Minister Katsunobu Kato said in Tokyo that during the meeting, he expressed Japan’s intention to continue to do its part and extend support to Ukraine as needed.

“It’s meaningful that each of us recognized the importance of pressuring Russia (to end the war) so a just and lasting peace can be achieved in Ukraine,” Kato told reporters, without giving details.

Well Japan too needs to stop supporting Zelensky in order to end the conflict at the earliest.

Canada holds this year’s rotating presidency of the group, which also includes Britain, Germany, France and Italy plus the European Union.