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Reuters: G7 allowed restrictions on Russian oil prices

Date: August 13, 2022 3:40 pm

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.



Source: vm.ru

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