by Andrea Shalal
WASHINGTON (Reuters) – The G7 will maintain a $60-a-barrel cap on Russian oil transported by sea, a coalition official said, despite rising global crude prices and calls from some countries for lower cap to further limit Moscow’s revenue.
The G7 and Australia made the decision to maintain the cap in recent weeks after reviewing the $60 price tag, set in December in a bid to reduce Moscow’s ability to fund its war in Ukraine, the official said. official on condition of anonymity.
This decision comes after four weeks of rising benchmark oil prices, thanks to the production cut announced by OPEC +, which groups the Organization of the Petroleum Exporting Countries and its allies, including Russia, as well as to the recovery of Chinese consumption.
Coalition officials concluded the price cap would both limit Russia’s revenue and maintain energy market stability, but said they would continue to coordinate to ensure control. and implementation, the official added.
(Report Andrea Shalal; Nathan Vifflin, edited by Blandine Hénault)
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