The United States and other G7 countries are developing a plan to cap the price of seaborne shipments of Russian oil to cut the Kremlin's revenues while encouraging Moscow to keep producing oil.

Bloomberg

writes about this

with reference to its own sources.

The United States and the European Union are likely to agree to a softer controlled cap on Russian oil prices than previously thought, with only the G7 and Australia bound to comply.

South Korea has also privately told the G7 it plans to comply, while G7 officials are also looking to get New Zealand and Norway on board.

According to the publication, officials involved in the development of the plan are discussing an upper limit in the range of $40 to $60 per barrel and above.

"The White House and the administration remain on course to implement an effective, strong cap on Russian oil prices in coordination with the G7 and other partners," said White House National Security Council Press Secretary Adrienne Watson.

In turn, Deputy Treasury Secretary Wally Adeyemo said this month that the United States is beginning to make progress in negotiations with G7 countries to cap Russian oil prices.

It will be recalled that earlier it was reported that a number of global companies

are forming a "shadow fleet"

to transport Russian oil under sanctions.

It should be noted that at the beginning of October, the 

European Union approved the eighth package of sanctions against Russia.

Read also:

  • The price of war: Biden announced a new sale of oil from the strategic reserve

  • Russia's international reserves decreased by almost $25 billion in a month

  • Russia will be able to partially bypass oil price restrictions: the scheme has become known

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