The G7 group, which includes the world's most industrially advanced democracies, together with Australia, accepted the amount of the price ceiling to be imposed on Russian oil proposed by the EU on Friday, the G7 group announced late on Friday. On Friday, the ambassadors of the European Union member states agreed on a price ceiling of 60 dollars (23,000 forints) per barrel for oil imported from Russia.
The proposal was made by the G7 group consisting of the United States, Canada, Japan, Germany, Italy, France and Great Britain, supplemented by Australia, and on Friday night they all accepted the amount of the price ceiling proposed by the EU.
In order for the measure to enter into force on Monday as planned, the governments of the EU countries must approve the proposal over the weekend.
The purpose of introducing the price ceiling is to reduce Moscow's income by buying oil imported from Russia at market prices, and at the same time stabilize global energy prices.
Reacting to the EU's announcement on Friday, Leonid Slutsky, the chairman of the State Duma's lower house of the Russian parliament, warned the EU countries that they are endangering their own security by introducing the price cap.
At their June summit in Germany, the members of the G7 group unanimously agreed to use whatever means they can to prevent Russia from profiting from the war it launched against Ukraine in February.
Source: MTI
Photo: Pixabay
