The G7 agreed to set the maximum price for Russian oil at $60

Photo: © RIA Novosti/Maxim Bogodvid

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The G7 agreed to set a ceiling price for Russian oil at $60. The agreement will enter into force “December 5 or shortly thereafter.”

In addition, the G7 made a decision on the price ceiling for Russian oil products. The G7 countries will be determined on February 5, 2023.

As noted in the G7, countries will monitor the effectiveness of the price ceiling. If necessary, the marginal cost can be adjusted.

Earlier it was reported that the EU reached a compromise on the price ceiling for oil from Russia.

Recall, on November 4, Bloomberg, citing sources, reported that the negotiations of the EU countries on the introduction of the proposed G7 restriction on the cost of oil from the Russian Federation reached an impasse, as the opinions of the representatives of the countries diverged. The agency noted that the Baltic countries and Poland did not want to agree on a price ceiling for Russian fuel in the region of $65 per barrel. These states considered such a proposal “too generous” for the Russian Federation.

The head of the Ministry of Industry and Trade of the Czech Republic, Josef Sikela, said earlier that negotiations on this issue would be resumed on December 13.

On November 27, the press secretary of the Russian president, Dmitry Peskov, recalled that Moscow’s position is not to trade oil and gas with countries that intend to impose a price ceiling on energy resources from the Russian Federation.

Source: Ren TV

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