America Says, “A Cap on the price of Russian Oil will restrict Russia’s revenues for the Illegal war in Ukraine,”
A Price cap has been approved by the western nations on Friday to impede countries paying more than $60 for a barrel of Russian crude oil (Seaborne).
This measure will come into force from Monday to further strengthen the pressure on Russia over the Ukraine war.
Before this, Ukraine said the western applied price cap might be halved. Russia said that it will not supply its seaborne crude oil which is enforcing it.
The Price cap was proposed in September by the G7 Group of developed nations. This step was taken to lessen the Russian ability to fund the war in Ukraine.
In a joint statement, The G7, The European Union and Australia said the decision was taken to prevent Russia from profiting from its war of aggression against Ukraine.
This measure will come into force from Monday to further strengthen the pressure on Russia over the Ukraine war.
Before this, Ukraine said the western applied price cap might be halved. Russia said that it will not supply its seaborne crude oil which is enforcing it.
The Price cap was proposed in September by the G7 Group of developed nations. This step was taken to lessen the Russian ability to fund the war in Ukraine.
In a joint statement, The G7, The European Union and Australia said the decision was taken to prevent Russia from profiting from its war of aggression against Ukraine.
.jpg)
COMMENTS