Japan: Setting a ceiling on Russian oil prices reduces Russia’s revenues

Japan’s Finance Minister Shinichi Suzuki told reporters on Friday that setting a price ceiling for Russian oil would help stabilize energy supplies to the G7 countries.

The Nikkei newspaper quotes the minister as saying: “The price ceiling will cut Russia’s revenues and also help ensure the stability of energy supplies for each of the G7 countries.”

Earlier, on Friday, after the meeting of the G7 finance ministers in Berlin, a statement was adopted, according to which the countries of the group intend to set a price ceiling for Russian oil.

In order to provide mechanisms for the implementation of this plan, these countries intend to form a broad international alliance and prohibit the provision of any services for the sea transportation of Russian oil if it is sold at a price exceeding the ceiling agreed by the countries of the “broad international union”.

Source: TASS

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