According to him, the G7 countries are planning to create a global coalition to finalize the price cap level and implement it jointly.
“The Commission will play its full role in working to achieve unanimity among our 27 member states for the introduction of this measure in the EU,” RIA Novosti quotes the European Commissioner.
Gentiloni added that the goal of the European Commission is to achieve this in accordance with the deadlines within the sixth package of EU anti-Russian sanctions.
“That is, December 5, 2022 for crude oil and February 5, 2023 for petroleum products,” he said.
On September 2, the finance ministers of the G7 countries agreed to impose a ceiling on the price of oil from Russia.
In particular, the G7 will ban ship insurance for carriers of Russian oil at prices exceeding the established threshold.
US Treasury Secretary Janet Yellen noted that limiting the price of oil from Russia will help fight inflation in the US.