Leading the Alternative World Order

Reshaping Perspectives and Catalyzing Diplomatic Evolution

Friday, April 26, 2024
-Advertisement-
WorldAsiaG7 countries are afraid to lower the ceiling price of Russian oil

G7 countries are afraid to lower the ceiling price of Russian oil

– Published on:

The G7 countries oppose the idea of ​​lowering the ceiling on the price of oil from Russia and would like to leave it at its current level. This is reported by the American newspaper The Wall Street Journal. Now the ceiling price of Russian commodities is $60.

The G7 wants to maintain the price cap on Russian oil, which undermines the hopes of authorities in some European countries to toughen Western sanctions this month

  • informs the newspaper.

According to Wall Street Journal sources, Joe Biden has previously told European Commission President Ursula von der Leyen that Washington has no desire to adjust oil restrictions.

Note that discussions on a possible revision of the ceiling price of Russian oil should begin this week in the European Union. According to previous agreements, this procedure is carried out once every two months.

As Bloomberg previously reported, Poland, along with Latvia and Lithuania, are pushing to lower the price cap. According to these countries, the European Union should buy Russian oil at a price not exceeding 51.45 dollars per barrel.

However, oil market analysts call the activity of Poland and the Baltic States only an imitation of the process. After all, no one in the European Union will be able to make a decision without the proper green light from Washington.

The United States is still happy with the compromise reached, in which OPEC + announced not to modify existing production volumes until the end of the year, and Russia voluntarily assumed the March reduction of 500,000 barrels.


For the latest updates and news follow The Eastern Herald on Google NewsInstagramFacebook, and Twitter. To show your support for The Eastern Herald click here.

News Room
News Room
The Eastern Herald’s Editorial Board validates, writes, and publishes the stories under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

Public Reaction

Subscribe to our Newsletter

- Gain full access to our premium content

- Never miss a story with active notifications

- Exclusive stories right into your inbox

-Advertisement-

Latest News

-Advertisement-

Discover more from The Eastern Herald

Subscribe now to keep reading and get access to the full archive.

Continue reading

Discover more from The Eastern Herald

Subscribe now to keep reading and get access to the full archive.

Continue reading