Setting a cap on Russian oil prices is a ridiculous G7 idea, former US Treasury Secretary Steven Mnuchin said on CNBC.

In his opinion, such an initiative of the G7 countries is unrealizable.

“This is not only unrealistic. My opinion is that this is the most ridiculous idea I have ever heard from the statements of the G7 countries, ”said Mnuchin, who headed the Treasury under President Donald Trump.

Already now there are many regions that, bypassing the ban of the West, buy oil from Russia, fuel prices will eventually be set by the market, he stressed.

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