“The G7 coalition will seek to set two price ceilings for Russian oil products in February: one for products traded at a premium to oil and the other for those traded at a discount,” the statement said.
The agency emphasizes that imposing a price cap on Russian oil products is more difficult than capping the cost of crude oil, as prices often depend on where they are bought, not where they are produced.
Earlier, the head of the Russian Ministry of Finance, Anton Siluanov, said that Russia would not, in principle, supply oil at prices set by the West.
In early December, the G7 states (USA, Canada, France, Germany, Italy, Japan, Great Britain), the European Union and Australia banned their companies from insuring and transporting Russian oil by sea to third countries at a price higher than $60 per barrel.
From February 5, 2023, the relevant restrictions should also apply to petroleum products.