The leaders of the G7 countries plan to instruct ministers to study the issue of setting a price cap on Russian gas, and also intend to announce efforts to limit oil prices from Russia ,
KYIV. UkraineGate. 28 . June. 2022 | Economy .
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The decision on Russian gas is expected to be officially announced on Tuesday after the three-day G7 summit in Germany.
These steps are part of a broader discussion on how to reduce Russia’s profits from energy exports. For EU countries such as Italy, restricting Russian gas imports is an important issue because they rely on supplies from Moscow.
EU leaders also asked the European Commission to study restrictions on gas imports from Russia. However, some countries remain skeptical, arguing that this distorts markets. Others fear that Russia may respond with even greater supply cuts.
What will be the mechanism for limiting gas prices from Russia, not yet reported. Bloomberg notes that the talks will last until night. In addition, G7 leaders are discussing oil price restrictions, and are expected to mention the mechanism in a final communiqué.
Yes, they plan to ban insurance of maritime transportation of oil from Russia, if its cost exceeds the agreed upper limit. Negotiators, especially from the United States and Italy, are looking for a system that restricts the flow of money to Moscow, while leaving oil available to large buyers such as China and India to avoid inflation.
Before
G7 leaders will coordinate efforts to help Ukraine use Russia’s frozen assets.
Source: Ukrgate