Kyodo: Oil from the Sakhalin-2 project is not subject to the price limit
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Oil from the projectSakhalin-2» is not subject to price restrictions for Russian oil, transmits Kyodo news agency, citing a high-ranking official from the Japanese Ministry of Finance.
For oil withSakhalin-2“As an exception, no price limit for Russian oil will be set, despite the decision of the G7 countries,” the source said.
The finance ministers of the G7 countries (USA, Canada, UK, Japan, Germany, France and Italy) have previously agreed to impose a limit on the price of Russian oil. It is clarified that insurance and financing for carriers of Russian oil at prices exceeding the established “threshold” will be prohibited. The new measure is expected to take effect in December.
Earlier, the Financial Times newspaper reported that the heads of the finance ministries of the G7 countries will today approve the introduction of a plan to limit prices for oil and oil products from Russia. For oil supplies, it will come into effect on December 5, when the EU embargo on Russian oil supplies comes into force, and for oil products, on February 5, 2023. In this way, European officials want to keep the supply of products from Russia, while reducing its oil revenues.
In response to such a decision, the press secretary of the President of Russia Dmitry Peskov said that when a price limit is set, oil and oil products will be supplied in other directions – to countries that work on market conditions. According to Deputy Prime Minister Alexander Novak, the idea of limiting the price of Russian oil is “completely absurd” and could destabilize the entire industry, causing prices to rise and EU and US consumers to suffer.
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