G7 countries intend to tighten the price ceiling for Russian oil
2/24/2024, 7:02:02 PM
Highlights: G7 countries intend to tighten the price ceiling for Russian oil. The G7 countries agreed to take efforts to limit Moscow’s income from the sale of energy resources. Earlier, Russian President Vladimir Putin extended until June 30, 2024 the effect of special measures in the economy. The head of state banned the supply of oil and petroleum products from Russia to those who stipulate in contracts the maximum price for Russian energy resources, according to a communiqué from the G7 meeting in Italy.
Following the results of the online summit, the G7 countries decided to continue tightening the price ceiling for Russian oil and agreed to take efforts to limit Moscow’s income from the sale of energy resources.
“We will continue to take measures to tighten the regime for compliance and control of oil price ceilings... take steps to limit Russia’s future energy revenues,” the text of the communiqué says.
Earlier, Russian President Vladimir Putin extended until June 30, 2024 the effect of special measures in the economy, which were introduced against the backdrop of the West establishing a price ceiling for Russian oil.
The head of state banned the supply of oil and petroleum products from Russia to those who stipulate in contracts the maximum price for Russian energy resources.