The corresponding step G7 should increase Russia’s costs for the war in Ukraine and push Moscow into negotiations in the real world.
G7 countries plan to change Russian oil price restriction to reduce the Russian Federation’s revenue and publish the corresponding document on February 24. This has been reported by Bloomberg information.
The DRAFT application noted that the G7 Finance Minister could together change the established Russian oil price limit, which now costs $ 60 per barrel. The restriction was introduced to reduce Russia’s income from energy exports.
This step should increase Russia’s costs for the war in Ukraine and push Moscow into negotiations in the real world.
However, it is still unknown if all G7 countries are supported by the proposed document in its current form. The text may change, the discussions are still ongoing, the media is added.
As previously written, American penalties have a significant impact on the Russian economy. In particular, lowering oil and gas revenues have become a significant problem for the Russians, depending on these resources to supply government departments.
In January 2025, Russian oil companies paid 572.6 billion rubles of taxes, which had barely changed compared to December (571.2 billion rubles) for last year.
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Source: korrespondent
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