18.02.2025, 17:35
Bloomberg has learned about the G7's plans to review the ceiling on Russian oil prices
Source: OREANDA-NEWS
OREANDA-NEWS The G7 countries are exploring the possibility of reviewing the ceiling on Russian oil prices, Bloomberg reports, citing a draft document.
"The G7 is considering the idea of collectively tightening or adapting the ceiling on Russian oil prices in order to reduce Moscow's revenues," the article says.
It is noted that the G7 is planning to release a statement on February 24.
In mid-December, Bloomberg, citing sources, reported that the G7 countries were exploring ways to tighten restrictions on the cost of Russian oil, with options ranging from a complete ban to lowering the price ceiling to $40 per barrel.
Western oil sanctions against Moscow came into force on December 5, 2022: the European Union stopped accepting Russian oil transported by sea, and the G7 countries, Australia and the EU imposed a price limit on it at sea at $ 60 per barrel — it is prohibited to transport and insure more expensive fuel. A similar measure has been in effect for petroleum products since February 5, 2023.
Since February 1 of the same year, Russia has banned the supply of oil and petroleum products to foreign buyers if the contracts directly or indirectly provide for the use of a mechanism for fixing the marginal price.
"The G7 is considering the idea of collectively tightening or adapting the ceiling on Russian oil prices in order to reduce Moscow's revenues," the article says.
It is noted that the G7 is planning to release a statement on February 24.
In mid-December, Bloomberg, citing sources, reported that the G7 countries were exploring ways to tighten restrictions on the cost of Russian oil, with options ranging from a complete ban to lowering the price ceiling to $40 per barrel.
Western oil sanctions against Moscow came into force on December 5, 2022: the European Union stopped accepting Russian oil transported by sea, and the G7 countries, Australia and the EU imposed a price limit on it at sea at $ 60 per barrel — it is prohibited to transport and insure more expensive fuel. A similar measure has been in effect for petroleum products since February 5, 2023.
Since February 1 of the same year, Russia has banned the supply of oil and petroleum products to foreign buyers if the contracts directly or indirectly provide for the use of a mechanism for fixing the marginal price.
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