Reuters: Most G7 countries ready to lower ceiling on Russian oil to $45 without US
Most of the G7 countries are ready to independently lower the price ceiling for Russian oil from $60 to $45 per barrel, even if the United States, led by President Donald Trump, does not support this decision, Reuters reports, citing informed sources.
G7 leaders are due to meet in Canada from June 15-17. One of the main issues will be reviewing the price ceiling, which was first agreed in late 2022.
The mechanism stipulates that Russian oil can be sold to third countries only if it costs no more than $60 and is transported using Western insurance.
In recent months, the price of oil in the world has decreased, and the current $60 limit has actually lost its meaning.
The European Union and the United Kingdom are pushing for a reduction to $45. They are supported by Canada and some other European members of the G7. Japan's position is currently uncertain.
"Among European countries, there is a desire to lower the upper limit of the oil price from $60 to $45. There are positive signals from Canada, Britain and, possibly, Japan. We will use the G7 to try to get the US on board," the agency's source noted.
The US has yet to reach a consensus. US Treasury Secretary Scott Bessant expressed doubts about the need for a cut during the G7 meeting last month.
At the same time, some American senators, including Lindsey Graham, support this idea and are pushing for new sanctions against Russia, which could include additional duties on the purchase of Russian oil.
- In the 18th package of sanctions against Russia, the European Commission proposes to lower the "ceiling" of prices for Russian oil from the current $60 to $45 per barrel, as well as ban the use of Russian energy infrastructure, in particular Nord Stream.