The G7 countries allowed the introduction of restrictions on the price of Russian oil at the end of the year. This was reported by Reuters, citing a senior G7 official.
“The goal is to meet the deadline that the EU has already set,” the official said in an interview with the agency.
At present, Western countries are still discussing various restrictive measures to affect Russian revenue from oil and gas exports. The embargo on Russian oil did not produce results, as did the voluntary refusals of foreign companies to cooperate. The redirection of exports, alternative supply schemes and the “sanction premium” in oil prices allow the Russian Federation to continue to receive significant income even with discounted sales, reports RIA Novosti.
The day before, on July 26, columnist Thomas Lifeson opined that by imposing an embargo on the purchase of Russian oil and causing its cost to rise, Western countries not only created a shortage of the resource with their own hands, but also demonstrated the futility of sanctions in practice.
*The article has been translated based on the content of vm.ru. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!