Published by Global Banking & Finance Review®
Posted on February 14, 2026
1 min readLast updated: February 14, 2026
Add as preferred source on GoogleFrance is hopeful about a G7 maritime ban on Russian oil, potentially part of the next EU sanctions package. Discussions continue among G7 countries.
MUNICH, Feb 14 (Reuters) - Some G7 countries have expressed willingness to move ahead with maritime services ban of Russian oil and France is "reasonably optimistic a deal can be reached, French Foreign Minister Jean-Noel Barrot said on Saturday.
"We hope to be able to include it in the 20th (EU) sanctions package we are actively preparing," Barrot told reporters after a G7 foreign ministers meeting in Munich.
"Some of the G7 countries have expressed willingness to move forward. The jury is still out, but my expectations are reasonably optimistic," he added.
(Reporting by John Irish, writing Leigh ThomasEditing by Bernadette Baum)
A maritime ban refers to restrictions imposed on shipping services, preventing the transport of certain goods, such as oil, from specific countries.
EU sanctions are restrictive measures imposed by the European Union against countries, individuals, or entities to influence their behavior or policies.
Russian oil refers to crude oil and petroleum products extracted from Russia, which is one of the world's largest oil producers.
Sanctions can lead to economic isolation, reduced trade, and financial penalties for the targeted country, affecting its economy and international relations.
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