Some of Ukraine's key allies, including the US, are considering an outright ban on most exports to Russia to increase economic pressure on the country and its leader Vladimir Putin..

Citing sources, the publication notes that this idea is being actively discussed in the G7 on the eve of the summit of leaders in Japan in May to attract member countries of the European Union to sanctions.. However, the proposal can still be transformed.

In particular, diplomats are discussing stopping all exports, with a few exceptions.. At the same time, today you can sell everything that is not prohibited to Russia..

“If the G-7 leaders support this move at the summit, then they will have to agree on exactly what will not be on the list, including medicines and agricultural products, including food, which can probably be exported,” the publication notes, citing.

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However, there are potentially serious obstacles to the implementation of this plan.. To enter into force in the EU, the new criteria must be accepted by all members, and this will provoke a heated debate, given the likely backlash from companies that still export goods to Russia, as well as the risk of revenge from Moscow.

If a near-complete export embargo is implemented, much of the rest of the trade flows from these countries to Russia will disappear.. At the same time, a representative of the US National Security Council declined to comment on the prospects for such a move..

Sanctions have now nearly halved EU and G-7 exports to Russia, restricting everything from electronics to luxury goods.. According to the Geneva Trade Data Monitor, goods from Europe, the USA, Canada and Japan are still exported to Russia for $66 billion.. G7 members are concerned that this does too much good for the Russian economy, especially as Moscow finds new ways to circumvent sanctions in order to import goods through third countries..

At the same time, an almost complete ban on exports to Russia could bring Moscow even closer to Beijing in search of alternatives to sanctioned goods..

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Although Moscow has stopped publishing import data, several international observers and governments track their exports to Russia and customs data.. Thus, Germany, Italy and Poland remain the top three European exporters of goods to Russia, according to Trade Data Monitor.. In the G7, non-medical and non-agricultural products such as cars, chocolate, beer, shoes, flowers and cosmetics may be most affected..

At the same time, even with the existing restrictions, Russia managed to import part of the US and European sanctions components through third countries..

This causes increased attention of the G7 and the EU in the fight against sanctions circumvention, especially in strengthening the monitoring of so-called dual-use goods that can serve both military and civilian purposes..

European countries are still seeking to export certain goods from Russia, in particular palladium, copper, iron and nickel..

“Intensifying efforts to limit Putin's economic influence is likely to be a key point of the G7 summit. Leaders are also expected to make progress on a mechanism to track Russian diamonds across borders, eventually paving the way for restrictions on trade..