G7 plans to cap Russian oil prices
(Baonghean.vn) - G7 countries intend to maintain the ceiling price applied to Russian oil at 60 USD/barrel, the Wall Street Journal reported, citing informed sources.
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Oil rig. Photo: AP |
“The G7 group of countries wants to keep the ceiling price for Russian oil at $60 a barrel,” the newspaper reported.
The European Union (EU) decision to impose an embargo on Russian oil and oil products was made last summer. The sanctions on crude oil will come into effect six months after the date of signing, that is, from December 5, 2022, while the sanctions on fuel (oil-based products) will come into effect two months later - from February 5 this year.
Russia has also prepared its own counter-sanctions in response to the anti-market actions of Western countries. At the end of last year, President Vladimir Putin signed a decree banning the supply of Russian oil and oil products if the purchase contracts with partners directly or indirectly stipulate price ceilings. For oil, the ban will take effect from February 1, and for oil products, the date of application will be determined by the government. The general validity period of the decree is until July 1 this year./.
