Ukraine’s allies intend to pay Russia for oil no more than the cost of its production.
The G7 countries plan on Monday, June 27, to approve a package of actions against Russia, and are also working on a plan to limit Russia’s oil price, Reuters wrote.
“The dual goal of G7 leaders is to directly target Putin’s revenues, particularly from energy, and to reduce spillovers and impact on the G7 economy and the rest of the world,” he said. an official on the sideline of the G7 summit.
It was noted that the price cap could hit the revenues of the Russian Federation, in fact, lowering energy prices.
G7 leaders are also expected to make “an unprecedented long -term security commitment to provide Ukraine with more financial, humanitarian, military and diplomatic support if needed,” including the timely provision of modern weapons.
A White House press release said US President Joe Biden and other G7 leaders “will seek permission to use the proceeds of any new tariff on Russian goods to help Ukraine ensure that Russia will pay the price of the war. “
Under the US plan, Ukraine’s allies will pay Russia no more than the cost of production for its oil. Russia’s oil continues to flow into world markets, helping the global economy, but the Russian Federation will receive less money for it.
It was previously reported that during the 100 days of the war against Ukraine, Russia received 93 billion euros from energy exports.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.