G7 plans to cap Russian oil prices to increase pressure on Moscow

The G7 heads of state at Elmau Castle in Bavaria on June 27, 2022. AP - Markus Schreiber

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After Ukrainian President Volodymyr Zelensky's participation by videoconference in the G7 summit on Monday June 27, the leaders gathered in Bavaria reaffirmed their support for Ukraine in the face of Russian aggression.

While Washington has declared that it plans to increase its military support for the Ukrainian army, the group is considering another avenue for increasing pressure on Russia: capping Russian oil prices on international markets.

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With our special correspondent in Garmisch Partenkirchen,

Capping the price of Russian oil would have a double advantage in the eyes of the United States, in the maneuver to impose this idea on the G7 countries: on the one hand to reduce the resources drawn from oil by

, on the other hand to limit the consequences of soaring energy prices for consuming countries.

But for the time being this idea is the subject of discussions and debates within the G7.

Its application risks being “ 

 ”, underlines the French presidency.

France would like to explore other avenues in the face of the energy crisis, in particular wishing that producing countries produce more “

”.

Paris also pleads for a " 

 ", in particular with a " 

 " of

- two countries which are subject

.

In addition, the G7 countries plan to go back on a commitment made in the context of the fight against climate change: that of no longer financing

.

For several days, environmental NGOs have been concerned about a possible reversal of the G7 in this dossier, which, according to these NGOs, would undermine the carbon neutrality objectives set by rich countries within the framework of the fight against climate change.

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