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G7 to set fixed price on Russian oil – Reuters ...News
Rather than adopting a floating rate, they will reportedly opt for a hard-set cap, which can be revised when necessary The Group of Seven (G7) countries and Australia have agreed to set a fixed price for Russian oil instead of a floating rate pegged to an oil price index, Reuters reported on Friday, citing sources. “The Coalition has agreed the price cap will be a fixed price that will be reviewed regularly rather than a discount to an index... This will increase market stability and simplify compliance to minimize the burden on market participants,” a source told Reuters. The source added that linking the price t
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