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FriedButter

FriedButter

Major
Registered Member
It is official. Time to open your wallets for the imperialists.

G7 to set fixed price on Russian oil – Reuters​

The Group of Seven (G7) countries and Australia have agreed to set a fixed price for Russian oil instead of a floating rate pegged to an oil price index, Reuters reported on Friday, citing sources.

“The Coalition has agreed the price cap will be a fixed price that will be reviewed regularly rather than a discount to an index... This will increase market stability and simplify compliance to minimize the burden on market participants,” a source told Reuters.

The source added that linking the price to an oil price index, for example, the Brent international benchmark, which was one of the options discussed, could lead to increased volatility and diminish the desired effect of the cap. For instance, if Brent started to rise due to lower supply on the market, the cap would rise accordingly, which would benefit Russia.

According to the report, the actual price has not been decided on yet, but will be in the coming weeks. The price will be regularly reviewed, and may be revised in the future if the coalition partners see the need to do that.

The G7 countries have been discussing a price cap on Russian oil for months now, planning for the measure to reduce Russia’s profits from oil exports without damaging supply. The cap is to come into effect on December 5 for oil and on February 5 next year for petroleum products.
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BlackWindMnt

Captain
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FriedButter said:
It is official. Time to open your wallets for the imperialists.


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Also saw this article.
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So that means nothing will change regarding current situation? Because it sounds like nations will just buy Russian oil with rubbles or national currencies they will then slap a "made in not Russia" label on it and resell to the west?
 
Breadbox

Breadbox

Junior Member
Registered Member
BMUFL said:
Third reich tier levels of education producing worker drones with third reich tier levels of critical thinking. And Americans wonder why they can't compete in science and design.
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Don't insult the third reich like that, the Third Reich have a working educational system and doesn't need to import everyone of their notable scientists and engineers from abroad.
 
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