The G7 countries plan to review the price limit for Russian oil to further limit Russia's financial capacity and make it reduce the cost of war in Ukraine. The corresponding document must be published on February 24, 2025, Bloomberg reports.
According to the project, the G7 finance ministers can review the set price for Russian oil, which is currently $ 60 per barrel. These restrictions were imposed to reduce Russia's revenues from energy exports and weaken its economic stability.
It is expected that such a step will increase Russia's financial expenses for war in Ukraine and push Moscow to serious negotiations on peace. However, it is unknown whether all G7 countries will support the proposed document in its current form, since the discussion is still ongoing and the text may be changed.
It is worth noting that US sanctions already have a significant impact on the Russian economy, especially by reducing oil and gas revenues, which is an important source of funding for the Russian budget.
