Japan announced a mechanism to halve the price of

Russian oilat a cost above the established limit Fumio Kishida

The mechanism for limiting prices for Russian oil, which was discussed at the recent G7 summit, will halve them, said Japanese Prime Minister Fumio Kishida, Kyodo reports.

“We will set the upper threshold at about half the current price and create a mechanism by which it will not be possible to buy more expensive,” he explained.

The G7 countries, in a communiqué following the summit, which was held on June 26-28 in Germany, agreed to look for ways to limit the transportation of Russian oil if it is sold at a price above the limit, which "will be agreed upon after consultations with international partners." BLOOMBERG wrote that the "Seven" are discussing price caps due to the ceiling on insurance and transportation of oil.

The HEAD of Zelensky's office called Kyiv's conditions for lifting sanctions against RUSSIA Politics

The head of the European Council, Charles Michel, said that the EU countries would be ready to join such a decision when they were convinced that it would negatively affect Russia, and not themselves.

Analysts at JPMorgan Chase suggested that Russia could cut production "to hurt the West" in response to price caps. If Moscow produces 3 million barrels. less oil per day, oil will rise to $190 per barrel. If production is reduced by 5 million barrels. per day, the price will rise to $380, while the Russian economy will not suffer significantly, experts say.

After the start of the Russian special operation in Ukraine , the United States banned the import of oil from Russia. In June, the European Union, as part of the sixth package of sanctions, imposed restrictions on the import of Russian oil by sea. Against this background, oil prices rose, and Russia redirected supplies to Asia. Finance Minister Anton Siluanov said that the oil embargo and the EU's planned phasing out of Russian gas would not lead to a sharp decline in budget revenues from hydrocarbon exports.

Read on RBC Pro Pro Coinbase shares collapsed after the crypto.Should I buy them on a drawdown Predictions Pro Like a technology sectorCHINAlost $2 trillion capitalizationthan gradual Articles Pro Unwanted deepfake:is it possible to protect yourself from it - world practice Articles Pro Diet for cookies and sports daily:how Mark Cuban takes care of his HEALTH Articles Pro Mercy, Baku: taxes,which will have to be paid when moving to Azerbaijan Articles Pro “I will write to the president”: where to complain,if your labor rights have been violated Instructions Pro Meteorological dependence:myth or reality Instructions