The G7 countries and Australia confirm their intention to phase out crude oil products of Russian origin in their domestic markets, the coalition said in a statement released Friday evening.

“We reaffirm our intention to phase out crude oil products of Russian origin in our domestic markets. This obligation remains unchanged after the introduction of the price cap policy. Instead, the price cap policy aims to allow our service providers to support the supply of Russian crude oil and petroleum products to other countries, which will ensure a stable supply of energy resources while limiting the income of the Russian Federation, ”the statement says.

The G7 countries also called on non-coalition states importing Russian oil to join the policy of limiting its marginal cost. In their opinion, "this is in the economic interests" of these countries.

“Importing within the price cap will help drive down the cost of energy and limit Russia's ability to capture the extra profit it earns,” the statement said.

bbabo.Net