Oil and gas embargo against Russia was needed 'yesterday' - Yermak

Andriy Yermak, head of the Ukrainian President's Office, wrote this on Telegram, Ukrinform reports.

He noted that restrictions on imports of Russian gold announced by the G7 countries would cost Russia $ 19 billion a year, which is good news, but a gas embargo would be more effective.

"But Russia receives much more from energy exports. The gas embargo and stricter restrictions on oil exports were needed 'yesterday.' We need to move in this direction," Yermak said.

U.S. President Joe Biden earlier said that he, along with other world leaders at the G7 summit in Germany, which began on June 26, would announce a ban on Russian gold imports.

U.S. Secretary of State Antony Blinken said in an interview with CNN that the introduction of a ban on imports of Russian gold, which is the country's second most lucrative export after energy, will deny Russia access to $19 billion of revenues a year.

Photo: President's Office