The Big Seven agreed to introduce a single price ceiling for Russian oil – media
The G7 countries agreed to introduce a single price ceiling for Russian oil.
They agreed on a cap instead of options that allowed for a floating price. This is reported by Reuters.
According to the source of the agency, the price ceiling will become a single one and will be reviewed regularly. It is expected that this will increase the stability of the market and reduce the burden on its participants.
It will be recalled that at the beginning of October, the European Union approved the eighth package of sanctions against Russia, which provides for a ceiling price for oil.
Additional export restrictions also include a ban on the export of coal, including coking coal, certain electronic components (in Russian weapons), technical products used in the aviation sector, and certain chemicals.
The other day, Reuters reported that US and Western officials are finalizing plans to cap Russian oil prices.
According to preliminary information, the price ceiling for Russian oil can be set at the level of $63-64 per barrel.