June 13, 2025
Reuters: Most G7 countries are ready to reduce the upper limit of prices for Russian oil without US thumbnail
Ukraine News Today

Reuters: Most G7 countries are ready to reduce the upper limit of prices for Russian oil without US

According to the agency, the EU and the UK are ready to lead the process and act on their own”, – WRITE: www.radiosvoboda.org

Most of the Seven Group countries are ready to reduce the upper limit of Russian oil prices, even if the United States refuses this initiative, writes Reuters with reference to four sources that are familiar with this issue.

Sources that refused to name their names have reported that the EU and the United Kingdom are ready to lead the process and act on their own, with the support of other European countries in the Great Seven and Canada.

According to them, it is unclear that the United States will decide, although Europeans insist on making a single decision at the meeting. Japan’s position also remains uncertain, they say.

“Among European countries there is a desire to reduce the upper limit of oil prices from 60 to 45 euros. There are positive signals from Canada, Britain and perhaps Japan. We will use G7 to try to attract the US on board, ”one of the sources said.

The White House did not comment. According to sources, during the meeting of G7 finance ministers, US Finance Minister Scott Bessent was not convinced of the need to reduce the limit.

Read also: Trump will go to the G7 Summit to Canada, which was offered to become a “51st staff”

G7 leaders should meet June 15-17 in Canada, where they will discuss the upper price limit, first agreed at the end of 2022. The restriction has been developed to allow Russian oil to sell third countries using Western insurance services, provided that the price will not exceed $ 60 per barrel.

The European Union and the United Kingdom insisted on a reduction in prices within a few weeks after the fall of world oil prices made the current limit of $ 60 almost inappropriate.

On June 10, the European Commission presented the 18th Package of Sanctions against Russia, which contains, among other things, a proposal to reduce the ceiling of oil prices from $ 60 per barrel to 45.

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