“Limit Moscow’s income”: G7 countries are preparing a decision on the ceiling of prices for Russian oil

The finance ministers of the Group of Seven (G7) countries may already today approve the ceiling prices for Russian oil, Reuters reports, citing unnamed European officials.

At the same time, according to the Bloomberg agency, the marginal prices for Russian oil can be set at the level of $40 to $60 per barrel, Kommersant newspaper reports.

Reuters sources say that a communiqué with plans to introduce restrictions should be published online following the results of the ministerial meeting.

It is emphasized that marginal prices are set to limit Moscow’s oil revenues against the backdrop of global growth in energy prices.

Meanwhile, the day before, Deputy Prime Minister Alexander Novak warned that Russia would stop supplying oil and oil products to companies and countries that would impose a ceiling on prices for this energy resource. According to him, the Russian Federation will not work on non-market conditions. In addition, the deputy chairman of the government noted that the very idea of ​​u200bu200bthe ceiling on oil prices from Russia “is completely absurd.” In his opinion, such a limit will destabilize the entire industry, and oil consumers from the United States and the European Union will pay for it.

For its part, the Russian embassy in the United States called on Washington to change its mind and stop imposing on other countries counterproductive initiatives regarding the establishment of a price ceiling for Russian oil, which threaten only a further collapse of the oil market.

At the same time, TASS adds, the White House on Thursday refused to clarify whether it is possible to lift the embargo on Russian oil imports in the United States if the finance ministers of the G7 countries agree on a price ceiling for oil from the Russian Federation at a videoconference meeting on Friday.