Reuters learned about the decision of the G7 not to change the price ceiling for Russian oil

G7 countries decided not to change the price ceiling for Russian oiloilat $60 per barrel,despite rising oil prices in recent months

The G7 countries ( Great Britain , Germany , Italy , CANADA , France , Japan , usa ) and Australia will keep the price ceiling for Russian oil transported by sea at $60 per barrel. This was reported to REUTERS by an informed source.

The interlocutor of the agency clarified that the countries came to the conclusion that the current price ceiling works both to limit Russia's income and to maintain the stability of the energy market. According to him, now Russian oil (Urals. -) is sold at a discount of about $30 against Brent.

According to Reuters, the G7 decision was made despite the fact that oil prices have risen significantly in the last month.

Introduced in December 2022, the oil price ceiling prohibits companies from the G7 and the EU from providing transportation, insurance and financial services for Russian oil and oil products if they are sold in excess of the $60 per barrel limit.

The price ceiling approved by the EU, G7 and Australia came into effect on December 5, 2022. RUSSIA responded by banning the supply of oil and oil products under contracts that "directly or indirectly provide for the use of a cap price fixing mechanism."

U.S. Presidential Energy Security Adviser Amos Hochstein said earlier that the oil price ceiling was "working well" and energy supplies from Russia were being sold below price ceilings. At the end of March , BLOOMBERG reported that the majority of G7 members are against lowering the price ceiling, Brussels also considers the current ceiling to be effective.

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The Russian authorities have repeatedly criticized Western countries for their illegal sanctions policy. In March, Deputy Prime Minister Alexander Novak reported that against the background of Western sanctions, most of the supply of Russian energy resources in 2022 was redirected to friendly countries. According to him, deliveries to CHINA and other markets have increased, while exports to India have increased 22 times.