LEADERS of the group of seven richest economies are considering increasing pressure on nations that are boosting their purchases of Russian oil and helping Moscow circumvent sanctions, according to a statement by G7 finance ministers.

The statement said: “We are giving serious consideration to trade measures and other restrictions on countries and entities that are helping finance Russia’s war efforts, including on refined products sourced from Russian oil.

“We agreed that now is the time to maximize pressure on Russia’s oil exports,” and “target those who are continuing to increase their purchase of Russian oil and those that are facilitating circumvention,” according to the statement.

The finance ministers of Britain, Germany, Italy, Canada, the US, France and Japan said: “We agreed on the importance of trade measures, including tariffs and import/export bans, in our efforts to cut off Russian revenues. We will take concrete measures to significantly reduce, with the objective of phasing out, our remaining imports from Russia, including on hydrocarbon imports.”

The G7 also promised to tighten sanctions on key sectors of the Russian economy such as “energy, finance, the military industrial base, special economic zones, and enablers and profiteers,” according to the statement.

Meanwhile, on Wednesday, France detained several crew members from the Pushpa tanker stopped off its coast over suspected violations of maritime law.

They are currently being questioned in connection with a case launched by prosecutors in Brest, France.

The office of the prosecutor said their inquiry was looking into the possible “lack of justification for the ship or flag’s national affiliation” and a “refusal to obey.”

French President Emmanuel Macron told reporters that the ship’s crew “has made very serious mistakes,” which necessitate an inquiry.

He also mentioned an ongoing effort by the European Union against a so-called shadow fleet that is allegedly transporting oil products from Russia.