G7 countries confirmed their intention to set marginal prices for Russian oil

The G7 finance ministers have confirmed the intention to set a ceiling of prices for Russian oil. Restrictions may come into force on December 5. The Great Seven countries have confirmed their intention to set oil prices from Russia, writes Bloomberg, citing a joint statement of G7 finance ministers.

"We confirm our common political intention to complete and introduce a comprehensive ban on services that allow marine transportation of raw oil and petroleum products of Russian descent around the world," the Ministers said. Video day thus, G7 countries hope to reduce pressure in the energy market and reduce the total revenues of Moscow.

"We confirm our common political intention to complete and introduce a comprehensive ban on services that allow marine transportation of raw oil and petroleum products of Russian descent around the world," G7 ministers said. The statement also states that the provision of such services will be allowed only if oil and petroleum products are purchased at a price lower than the established restrictions.

Prices for Russian oil are planned to be introduced "in accordance with the timing of the EU sanctions on Russian oil", which have come into force on December 5. The statement is not called a dollar range to limit prices for Russian oil. "The initial price limit will be set at a number based on a number of technical data and will be resolved by the whole coalition for implementation in each jurisdiction," the Ministers said.