February 22, 2025
G7 considers the possibility of changing the ceiling price for Russian oil - Bloomberg thumbnail
Ukraine News Today

G7 considers the possibility of changing the ceiling price for Russian oil – Bloomberg

It is difficult to say for sure how in practice the strengthening or adaptation of the limit will look. One of the options can be a price reduction”, – WRITE: www.radiosvoboda.org

The Seven Group considers the possibility of collective strengthening or adaptation of the upper limit for the price of Russian oil to reduce Moscow’s revenues, since the war in Ukraine is ongoing.

The project of Bloomberg News has read, shows that G7 countries can assign its finance ministers collectively to review the cheese price limit, which is currently set at $ 60 per barrel and was introduced to restrict the Kremlin access to the Kremlin.

This step would be part of an effort to increase the cost of war in Ukraine for Russia to “stimulate it to negotiate a full -fledged peace.”

It is difficult to say for sure how in practice the strengthening or adaptation of the limit will look. One option may be to reduce the price, the other is an attempt to increase control over compliance with current restrictions.

The project also states that the Allies “recognize” the “readiness” of President of Ukraine Volodymyr Zelensky to negotiate the war, but at the same time warn that the conditions of peace proposed by Russian President Vladimir Putin “are still equal to the complete surrender of Ukraine.” The project states that the Allies plan to meet with Zelensky on February 24.

According to the project, the Allies will call for a “fair peace, which is based on common sense, the ongoing peace, which will provide for” strong security guarantees “.

At this stage, it is unclear how all the G7 countries support the document in its current form, and it will probably be revised as diplomats will continue negotiations on its text. The so -called zero also mentions “troops and field resources in combination with reliable international supervision to control the compliance with the agreed lines.”

The restriction of the price of oil was criticized when it was first introduced in December 2022 as too easy for Russia to bypass it. This perception changed on January 10, when Biden administration included 161 tankers, the two largest Russian oil companies, several traders and a key insurer of the country’s tankers.

The new US Finance Minister Scott Bessent spoke of increased measures if Washington believes that this would help accelerate the war in Ukraine.

G7 plans to publish a statement on February 24 – on the third anniversary of a full -scale invasion of Russia into Ukraine.

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