Photo: Global Look Press
Australia and the G7 member states have reached an agreement to set the maximum price for Russian oil at $60 per barrel. This is stated in the published statement.
The agreement will take effect from February 5, 2023. At the same time, the document notes that after tracking the effectiveness of the measures taken, the marginal price can be adjusted. It also clarifies that Russia can sell oil at a price below the set bar, remaining on the world market, or operate outside the G7, but at the same time reducing its presence.
The G7 also confirmed the phasing out of Russian-made crude oil and petroleum products on domestic markets.