WASHINGTON Dec 3 G7 countries and Australia reaffirm intention in stages to phase out Russian-origin crude oil and petroleum products in our domestic markets, the coalition said in a statement released Friday evening.
«We reiterate our intention to phase out Russian-origin crude oil and petroleum products in our domestic markets. This commitment remains unchanged after the introduction of the price cap policy. Instead, the price cap policy is aimed at allowing our service providers to maintain the supply of Russian crude oil and petroleum products to other countries, which will ensure stable energy supplies while limiting the income of the Russian Federation, «the statement reads.
G7 countries also called on non-coalition states that import Russian oil to join the policy of limiting its limit value. According to them, «it is in the economic interests» of these countries.
«Imports within the price limit will help reduce the cost of energy and limit Russia's ability to receive additional profit that it earns,» the statement emphasizes.