Tuesday, 16 July 2024

Kremlin: Russia is looking for options against oil price cap

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Today, Wednesday, the Russian Information Agency quoted Kremlin spokesman Dmitry Peskov as saying that his country is discussing various options regarding how to respond to the imposition of a ceiling on the price of its oil.

According to Reuters, the price ceiling for Russian oil, set by the Group of Seven major industrialized countries, the European Union and Australia at $60 a barrel, came into effect on Monday, with those parties trying to limit Russia’s ability to finance its military operation in Ukraine.

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