Expert: The decision of seven countries to limit Russian oil and gas prices will not work

Oil market expert Hajjaj Buhdur said that the decision of the G7 countries to lower prices for Russian oil and gas will not be successful.

In an interview with the Russian Novosti agency, the expert said that oil and gas prices are influenced by many factors, and they are beyond the control of the countries of the group.

He added that no one in the world can determine the price of oil, and a few countries cannot manage supply and demand around the world.

He believed that Moscow had already managed to respond to the steps of the Western countries by adopting a mechanism for paying for gas in rubles, and that the declaration of the seven countries would have no effect.

It is noteworthy that the leaders of the seven countries confirmed during the summit in Germany on June 26-28 their intention to reduce dependence on energy resources from Russia. They agreed to take measures to reduce the price of oil and gas from Russia.

Source: RIA Novosti

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