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MOSCOW, Sep 6 The G7 countries do not plan to revise the price ceiling for Russian oil that has come into force in the near future in December, reports Reuters, citing sources.
On December 5, the European Union stopped accepting Russian oil transported by sea, and the G7 countries, Australia and the EU introduced a price limit for sea transportation at $60 per barrel — it is forbidden to transport and insure more expensive oil. In early December, a source in Brussels told reporters that the European Union plans to revise the price ceiling for Russian oil every two months. The G7, however, planned to discuss adjustments as needed.
However, as the agency recalled, the allies have not revised the price ceiling since March. «And four people familiar with G7 politics said that the group does not plan to consider adjusting this scheme anytime soon,» he said in a statement.
“In June or July, there were talks about revising or at least discussing this issue, but officially this never happened,” one of the agency’s diplomatic sources is quoted in the material as saying. According to him, despite the fact that some EU countries were interested in revision, the US and members of the «Big Seven» showed little desire to make changes.
The agency believes that the lobby of the forthcoming UN General Assembly at the end of September may become an unofficial platform for negotiations on the issue of adjusting the price ceiling.
The price of Russian Urals oil exceeded $60 per barrel in July. According to the Ministry of Finance of the Russian Federation, its average price in July was $64.37 per barrel, and the discount to Brent was $15.7. In August, the price rose to $74, and the discount was below $13.