G7 considers new sanctions on Russia over Ukraine and diamond exports.

The European Union is unlikely to agree to a proposal to ban natural gas imports from Russian pipelines in the future, despite reports that the G7 and EU were considering such a plan. The 11th sanctions package is almost complete, and an EU diplomat has said that it is very unlikely such a large change will be made now. Russia's natural gas exports via pipeline to Europe fell by 11.4% in the first half of May compared to the average pipeline flows in April.