Moscow is considering either imposing a fixed price on barrels of Russian oil or setting maximum discounts to international benchmarks at which it can be sold, the agency said.
Russia is considering the possibility of setting a floor price on international sales of Russian oil in response to the ceiling imposed by the Group of Seven most industrialized countries (G7), as reported by Bloomberg.
Moscow is considering either imposing a fixed price for barrels of Russian oil or set maximum discounts at international benchmarks at which it can be sold, the agency said, citing two officials with knowledge of the plan.
A G7 cap on the price of Russian seaborne oil came into effect today as the West tries to curb Moscow’s ability to finance its war in Ukraine, but Russia has said it will not comply with the measure yet even if it has to reduce production.
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