The G7 is considering a complete ban on exports to Russia, in order to further intensify the pressure on Vladimir Putin, as an additional measure to the sanctions against Moscow, reports the Bloomberg.

According to information, the proposal for the universal ban on exports to Russia is also supported by the USA. The matter will be discussed at the upcoming G7 meeting to be held in Japan. According to sources, the proposal cannot be ruled out to change.

The parameter that will be discussed among its leaders G7 are the exceptions to basic necessities such as medicine and basic food.

However, there are potentially serious barriers to implementation. To enter into force in the EU, the new criteria will have to be adopted by all members and this will trigger another debate with different opinions and conflict of interests, as there are not a few European countries that cooperate with Russia and support part of the revenue in this particular market, while there is also the risk of retaliation from Moscow.

Bloomberg notes that if a near-total embargo on exports is imposed, much of the remaining trade flows from these countries with Russia will be wiped out. Spokesman for the US National Security Council declined to comment on the prospect of such a move.

So far the sanctions have almost halved the value of EU and G-7 exports to Russia, with restrictions covering everything from electronics to luxury goods. But that still allows $66 billion worth of goods to flow from Europe, the US, Canada and Japan, according to the Geneva-based Trade Data Monitor.

G-7 members worry it is too much of a boon for Putin’s wartime economy, especially as Moscow finds ways to circumvent sanctions to import goods through third countries. The G-7 and the EU have imposed several rounds of sanctions, some of which included a grace period before they took effect.

Russia has responded to the sanctions by imposing its own export bans and periodically cutting energy supplies to Europe. The EU would be particularly vulnerable to restrictions on commodities such as copper. And a near-total ban on exports to Russia could push Moscow even closer to China as it seeks alternatives to sanctioned goods.

Moscow has stopped publishing import figures, but several international observers and governments track their exports to Russia and customs data. Germany, Italy and Poland remain the top three European exporters of goods to Russia, according to Trade Data Monitor data. Across the G-7, non-pharmaceutical and non-agricultural products that could be most affected include cars, chocolate, beer, footwear, flowers and makeup.