"(Bloomberg) -- The US and its allies have discussed trying to cap the price on Russian oil between $40 and about $60 a barrel, according to people familiar with the matter.member states. "
Allies have been exploring several ways to limit Russia’s oil revenues while minimizing the impact on their own economies in discussions that began in the run-up to the Group of Seven summit.
At the summit in Germany on June 28 leaders agreed to explore options to cap prices by banning insurance and transportation services needed to ship Russian crude and petroleum products unless the oil is purchased below an agreed price."
Wishful thinking?
Or US and Allies are now trying to wiggle out from the sanction trap they had set up?
"One issue is that the mechanism would require the European Union to introduce exemptions to sanctions the bloc adopted at the beginning of June when it agreed to an outright ban on those services after overcoming weeks of intense negotiations between
On Thursday, July 7, 2022 at 1:13:19 AM UTC+8, ltlee1 wrote:between member states. "
"(Bloomberg) -- The US and its allies have discussed trying to cap the price on Russian oil between $40 and about $60 a barrel, according to people familiar with the matter.
Allies have been exploring several ways to limit Russia’s oil revenues while minimizing the impact on their own economies in discussions that began in the run-up to the Group of Seven summit.
At the summit in Germany on June 28 leaders agreed to explore options to cap prices by banning insurance and transportation services needed to ship Russian crude and petroleum products unless the oil is purchased below an agreed price."
Wishful thinking?
Or US and Allies are now trying to wiggle out from the sanction trap they had set up?
"One issue is that the mechanism would require the European Union to introduce exemptions to sanctions the bloc adopted at the beginning of June when it agreed to an outright ban on those services after overcoming weeks of intense negotiations
This is absurd of the US to set and demand how much price they wish to pay. Russia should make clear not to sell at that price and can decide not to sell to US and any of its allies too. Russia should double the current market price for US and itsallies. They should use some profit to reduce the price of oil and gas sold to poor countries, instead.
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