This proposal has already been supported by the EU and members of G7 – France, Germany and Italy, as well as the UK.
The European Commission and the most influential EU member state will insist to reduce the upper limit of Russian oil price to $ 45 per barrel in the framework of strict sanctions against the Russian Federation, but so far they do not have enough support. This was announced the day before the British newspaper financial times with reference to resources on Tuesday, May 27th.
It is indicated that the EU is trying to take more significant steps against Russia, among which is a reduction in the price ceiling for exporting raw oil from 60 to 45 dollars per barrel, according to information of people who are aware of the preliminary discussion of 18 EU penalties. But so far this idea has not been convinced of all 27 EU member states and their partners from G7.
At a meeting of G7’s financial ministers last week, Canada suggested to include a clear formulation of restricting oil price restrictions into a joint statement. This proposal is supported by the EU and members of G7 – France, Germany and Italy, as well as the UK. But this is not included at the request of US financial minister Scott Belland, according to three officials who are familiar with the meeting.
In the final application, it was decided to include words that allow G7 countries to “continue to study all possible options, including maximum pressure alleviation options, such as further tightening of penalties”, if the ceaseal agreement was not reached.
Separately, the EU countries, who previously did not want to support the idea of restrictions on oil prices, such as Hungary and Greece, still reviewing this proposal, resources said.
Earlier, the media reported that the EU suggests to reduce the maximum cost of Russia’s oil to $ 50 per barrel.
Remember that in December 2022, more than 30 countries in the world established a ceiling of oil prices from Russia of $ 60 per barrel. The restriction provides that companies of countries that will agree with sanctions will not be provided with brokerage, insurance and other Russian oil transportation services in third countries, unless this oil is sold at a price of less than $ 60 per barrel. Also, an embargo began to operate on oil supplies from Russia to Europe.
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Source: korrespondent
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