The heads of the G7 finance ministries agreed to introduce a “price ceiling” for Russian oil and are now discussing the introduction of a similar “ceiling” for gas from Russia, reports Sky News.
Now, from the side of the large seven, a “price ceiling” will be introduced for the price of Russian oil, which will not be made more expensive than the purchase. The countries have not yet agreed on what it will be. For a number of “vulnerable countries” they will develop special mechanisms to maintain access to Russian energy resources.
To force the country’s embargo, G7 will ban insurance and financing for those who wish to transport raw materials from Russia at prices exceeding the established level. “We confirm our joint political intention to approve and implement a full ban on services that provide marine transportation around the world of oil, as well as oil products of Russian origin. The provision of such services will be allowed only if oil and oil products are purchased at the price or lower than the price , a certain wide coalition of countries that participate in the mechanism of price restrictions and implement it, ”the coalition said.
restrictions will enter into force on December 5, 2022 for raw oil and February 5, 2023 for oil products. The new rules will require approval in the European Union and editing some sanctions.
Recall that the Great Britain, Germany, Italy, Canada, the United States, France and Japan are included in the large seven.