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G7 cap to halve price of Russian oil – Tokyo ...News
The Japanese prime minister says Russian crude can’t and won’t be bought at a higher price The price cap on Russian oil proposed by the Group of Seven will force Moscow to sell crude to around half its current purchase price, according to Japanese Prime Minister Fumio Kishida. The mechanism has been designed to ensure that Russian oil “will not and cannot be bought at a higher price” than the established threshold, Kyodo News quoted Kishida as saying during a stump speech in Tokyo on Sunday. He referred to a joint communique released after a summit of G7 nations in late June. Back then, members of the group said t
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