The head of the Presidential Administration of Ukraine, Andriy Yermak, said on Saturday that the price ceiling for Russian oil, agreed on Friday by the G7 countries together with Australia, should be lowered to $30 per barrel in order to hit the Russian economy harder.

Andriy YermakPhoto: Ruslan Kanyuka / Zuma Press / Profimedia

“This is all that the McFaul-Yermak group proposed, but it would have to be reduced to $30 in order to destroy the enemy’s economy faster,” Andriy Yermak wrote in Telegram, citing the international working group on sanctions Reuters and Agerpres. report.

Russia’s economy “will be destroyed” by the introduction of a price limit for Russian oil at the level of 60 dollars per barrel in accordance with the agreement of the EU, G7 and Australia, Andriy Yermak said.

“We always achieve our goal, and the Russian economy will be destroyed, and it (Russia) will pay and answer for all its crimes,” the head of the Presidential Administration of Ukraine wrote in Telegram.

The G7 countries, along with Australia, agreed on Friday to cap the price of Russian oil at $60 per barrel, in line with an agreement reached earlier by the 27 countries of the European Union.

“The G7 and Australia (…) have reached a consensus on a maximum price of $60 per barrel for crude oil of Russian origin transported by sea,” said the joint statement of these countries.

The deal was agreed on Thursday by the EU in coordination with G7 allies, notably the US and Britain, but Poland disagreed, asking for a lower ceiling, with some sources citing $30 a barrel. Ultimately, on Friday, Warsaw accepted a maximum price of $60 per barrel.

The measure, aimed at reducing Russia’s revenue in the context of its war against Ukraine, is in addition to a European embargo on imports of Russian oil by sea that comes into effect on Monday.

Specifically, with this ceiling, the EU prohibits European companies engaged in the delivery of Russian oil by sea (transport companies, insurance companies, etc.) from offering their services if the delivered oil exceeds the threshold of $60 per barrel.

___

  • Follow the latest events of the war in Ukraine LIVETEXT on HotNews.ro