France says rising oil prices in ‘no way’ justify lifting sanctions on Russia

ISTANBUL

French President Emmanuel Macron on Friday ruled out lifting sanctions against Russia as oil prices soared amid Middle East tensions.

“The situation in no way justifies lifting sanctions against Russia,” Macron said during a joint news conference with Ukrainian President Volodymyr Zelenskyy in Paris.

He noted that Russia is “mistaken” if it believes “the war in Iran will offer it a respite.”

“The context of rising oil prices must in no way lead us to reconsider our sanctions policy toward Russia. That is the position the G7 has taken, and it is obviously the position of France and of Europe,” Macron added.

He further reaffirmed that “nothing will divert” Paris from Ukraine, reiterating its “determination” to continue providing necessary equipment to Kyiv.

Since Israel and the US launched joint attacks on Iran on Feb. 28, which have so far killed around 1,300 people, including Iran’s then-Supreme Leader Ayatollah Ali Khamenei, hostilities have escalated.

Iran retaliated with drone and missile strikes targeting Israel, Jordan, Iraq and Gulf countries hosting US military assets.

Tehran has also effectively closed the Strait of Hormuz since March 1. The waterway carries about 20 million barrels of oil a day and roughly 20% of the global liquefied natural gas trade.