Reuters: G7 and Australia agreed to impose a price cap on Russian oil
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The G7 countries (Great Britain, Germany, Italy, Canada, USA, France, Japan) and Australia have finally agreed to set a fixed price for Russian oil, Reuters reports citing sources. The price ceiling has not yet been agreed, but it is planned to do this before the end of November.
According to one of the interlocutors of the agency, it is assumed that this price will be regularly reviewed as necessary. Countries expect that this will increase the stability of the market and help minimize the burden on its participants, the Reuters source said. At what level they want to set the maximum price for Russian raw materials is unknown.
The European Union laid the legal basis for the introduction of a price ceiling for Russian oil in eighth package sanctions imposed in October. The G7 countries planned to introduce a cost cap for the energy carrier by December 5th. The US Treasury offered to set a limit in the region of $40-60 per barrel. USA allowed unloading oil from Russia without a price ceiling until 19 January. Vladimir Putin warnedthat the Russian Federation will not supply energy resources to countries that will limit their prices.
On the discussion of the oil price ceiling – in the publication “Kommersant FM” “The US will reconsider plans”.
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