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Russian Oil Price Cap Around Half of Current Value: Japan

OIL
  • The price cap on Russian oil, discussed by G7 leaders late last month, is expected to be around half the current purchase price according to Japanese Prime Minister Fumio Kishida on Sunday.
  • The mechanism will operate so Russian oil "will not and cannot be bought at a higher price" according to Kishida, adding "We must show that aggression comes with a heavy price."
  • G7 leaders left their most recent meeting with the intention to research the viability of oil price caps against Russia, failing to come up with more concrete measures at present.
Energy BulletsCommodities
Energy BulletsCommodities

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