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G7 finance ministers comply with Russian oil worth cap

German Finance Minister Christian Lindner arrives to present a press release, following a gathering of the Group of Seven (G7) finance ministers in Berlin, Germany September 2, 2022. REUTERS/Michele Tantussi

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BERLIN, Sept 2 (Reuters) – The Group of Seven (G7) finance ministers plan to implement a worth cap on Russian-origin crude oil and petroleum merchandise, they confirmed in a joint assertion on Friday.

The preliminary worth cap can be primarily based on vary of technical inputs and the worth degree can be revisited as mandatory, stated the ministers.

“We purpose to align implementation with the timeline of associated measures throughout the EU´s sixth sanctions bundle,” they added.

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Reporting by Christian Kraemer, Writing by Miranda Murray
Modifying by Paul Carrel

Our Requirements: The Thomson Reuters Belief Rules.

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