Paris: 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.'

According to Anadolu Agency, Macron emphasized that the rising oil prices should not influence the existing sanctions policy toward Russia. He stressed that the position taken by the G7 aligns with that of France and Europe, arguing that the economic context should not lead to a reconsideration of the sanctions. Macron further reaffirmed France's commitment to supporting Ukraine, reiterating its determination to continue providing necessary equipment to Kyiv.

The backdrop of these developments is the escalating conflict that has unfolded since Israel and the US launched joint attacks on Iran on February 28. The attacks have resulted in approximately 1,300 casualties, including Iran's then-Supreme Leader Ayatollah Ali Khamenei. In retaliation, Iran has launched drone and missile strikes targeting Israel, Jordan, Iraq, and Gulf countries that host US military assets.

Furthermore, Tehran has effectively closed the Strait of Hormuz since March 1. This strategic waterway is crucial, as it carries about 20 million barrels of oil daily and accounts for roughly 20% of global liquefied natural gas trade. The closure has contributed to the spike in oil prices, adding pressure on the international community to reassess its geopolitical strategies.