Restriction to be imposed on Russian oil

11:40 - 1.09.2022


September 1, Fineko/abc.az. The finance ministers of the G7 countries (UK, Germany, Italy, Canada, France, Japan and the U.S.) tomorrow, September 2, must agree on a plan to set a limit price for Russian oil.

ABC.AZ reports that once this price is set, Russia will not be able to sell oil at a higher price.

The price limit will be applied not only to crude oil, but also to petroleum products, including fuel oil. It is unclear yet what the maximum price will be decided to fix.

The purpose of the restriction is to reduce Russia's oil revenues, as well as to prevent the rise in oil prices in the world.

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