The G7 officially announced a ceiling on Russian oil prices

The G7 officially announced a ceiling on Russian oil prices
The G7 officially announced a ceiling on Russian oil prices

“Today, we reaffirm our joint political intent to finalize and implement a comprehensive ban on services that enable the maritime transportation of Russian-origin crude oil and petroleum products worldwide – the provision of such services will only be permitted if the oil and petroleum products are purchased on or below a certain price (“price ceiling”) set by the broad coalition of countries that adhere to and enforce the price ceiling,” said the statement by the finance ministers of Britain, France, Italy, Germany, the US, Canada and Japan.

Their intention has been rumored for weeks, and earlier today Reuters reported that the cap would eventually be imposed. Now the ministers confirm this move.

Their goal is also to ease the impact of the war on world energy prices. The measure builds on existing sanctions, particularly those from the EU’s sixth package, the statement added.

Ministers said they were committed to “working urgently” on finalizing and implementing the price cap, without giving further details.

Before this G7 meeting, Russian Deputy Prime Minister Alexander Novak said that Moscow will no longer supply oil and oil products to countries that decide to introduce such restrictions.

Europe should impose a price cap on Russian pipeline gas. This was announced by the President of the European Commission, Ursula…

MORE: Russia stops supplying oil to countries that impose a ceiling on oil prices

“If they impose restrictions on prices, we simply will not supply oil and oil products to such companies or countries that impose restrictions, as we will not operate uncompetitively,” Novak said earlier, according to Russian state news agency TASS.

Today, Kremlin spokesman Dmitry Peskov confirmed these words in a conversation with CNN journalists. He said Moscow would turn to “alternative directions”, without specifying which countries he was referring to.

Today it also became clear that the European Commission supports a ceiling on the prices of Russian gas delivered via pipelines, so that “Putin cannot manipulate the European energy market”, in the words of the President of the EC, Ursula von der Leyen.

The article is in bulgaria

Tags: officially announced ceiling Russian oil prices

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