Decision on Russian oil price cap revealed ...News

Russia Today - Economy
Decision on Russian oil price cap revealed
source : Russia Today ( News ) () 44
The $60-per-barrel ceiling will reportedly remain unchanged The price cap on Russian crude oil will remain at its current level of $60 a barrel, Reuters reported on Monday, citing a Group of Seven (G7) official. The decision reportedly comes amid increasing global prices for crude and calls by some nations to lower the price ceiling set by the group in response to Russia’s military operation in Ukraine. The measure that came into effect in December bars Western businesses from providing transportation, insurance and financing to shipments of Russian crude, unless the cargo is bought at or below the set price. The

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