Anti-Russia alliance explores oil options
The G7 wants to ban the transportation of Russia's seaborne crude if a price cap is not agreed, according to a statement
The Group of Seven announced on Tuesday it will consider the possibility of an embargo on the transportation of Russian seaborne crude oil unless it is purchased at or below a price to be agreed with international partners.
According to a joint statement, the group, comprising Canada, France, Germany, Italy, Japan, the UK and the US, supports the decision of the European Union to explore ways to curb rising energy prices, including the feasibility of introducing temporary import price caps where appropriate.
“As for oil, we will consider a range of approaches, including options for a possible comprehensive prohibition of all services, which enable transportation of Russian seaborne crude oil and petroleum products globally, unless the oil is purchased at or below a price to be agreed in consultation with international partners,” the statement reads.
“In considering this and other...
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