G7 and Australia finalize Russian oil price cap, Ukraine thinks it's not low enough

2022-12-03T10:02:47.667Z

[Compiled by Zhang Peiyuan/Comprehensive Report] In view of the fact that the "G7" (G7) group and Australia have reached an agreement on Russia's seaborne crude oil export price ceiling of US$60 per barrel (about NT$1833), Ukraine said on the 3rd that it should be lowered to 30 per barrel. U.S. dollar to further hit Russian economy, Russia criticizes

G7 and Australia have reached an agreement on the ceiling price of Russia's seaborne crude oil exports, and both Russia and Ukraine expressed dissatisfaction.

The picture shows an oil tanker moored at the Russian port of Novorossiysk in October this year.

(Associated Press)

[Compiled by Zhang Peiyuan/Comprehensive Report] In view of the fact that the "G7" (G7) group and Australia have reached an agreement on Russia's seaborne crude oil export price ceiling of US$60 per barrel (about NT$1833), Ukraine said on the 3rd that it should be lowered to 30 per barrel. The U.S. dollar was used to further hit the Russian economy. Russia criticized the Western countries' move as "dangerous" and threatened that there would be no shortage of buyers for Russian oil.

The G7 and Australia agreed on the 2nd that the price of Russian oil exported by sea is capped at US$60 per barrel, and Russian oil exported above this price is prohibited from obtaining shipping services and related insurance; Oil to earn more financial resources for attacking Ukraine, and at the same time curb the soaring price of oil.

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In this regard, Ukrainian President Volodymyr Zelenskiy's chief of staff, Andriy Yermak, stated on the social platform Telegram that the international working group on sanctions against Russia had made all the recommendations, but "(the export of Russian oil by sea price) must drop to $30 (per barrel) in order to destroy the economy of the enemy (Russia) more quickly".

On the same day, the Russian embassy in the United States also posted a message on Telegram about the price limit for exporting Russian oil, criticizing the move by Western countries as dangerous and illegal. It is "reshaping" free market principles, which will lead to increased uncertainty and increased consumption of raw materials. and even so, "we are convinced that Russian oil will remain a hot seller".

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G7 and Australia finalize Russian oil price cap, Ukraine thinks it's not low enough