The US is against lowering the price ceiling for Russian oil during the G7 discussions, Bloomberg reports, citing sources.
The final decision remains with President Donald Trump, and it may still be changed, Bloomberg’s sources noted.
According to one of the publication’s sources, the UK and the EU could consider lowering the ceiling without the US, but this will not be as effective as if this step is unanimously approved by all G7 members.
The G7 agreed to introduce a price ceiling for Russian oil at the end of 2022. It is set at $60 per barrel, and is now proposed to be lowered to $45 per barrel.
The EU plans to include a reduction in the price ceiling for Russian oil in its next, 18th, sanctions package.
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