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They may ban it altogether: the West wants to revise sanctions against oil from the Russian Federation,
There is now a ban on exporting oil over $60.
G7 countries are looking for ways to tighten export price restrictions on Russian oil to better influence Moscow's ability to finance its war against Ukraine. Bloomberg writes about this, citing informed sources.
Several options are now being considered on how to further limit Russia's income. These include, in particular, a complete ban on processing Russian oil, or simply reducing the maximum export price from the current $60 to about $40.
However, the final option has not yet been selected and discussions are ongoing. It is noted that the G7 countries are striving to maintain a balance between limiting Russia’s income and the impact of the introduced measures on global…
