Upper Price Limit for Russian Gas – Am I Going to Freeze This Winter?

The finance ministers of the G7 countries want to introduce a ceiling for Russian oil prices, they wrote in a joint statement. They say that with the price cap on Russian oil, they want to prevent Moscow from taking advantage of the consequences of the war in Ukraine. With this move, the world's seven most developed economies want to force Russia to sell oil to large buyers such as India at a much lower price in the future. Russia has already threatened to stop selling oil to any country that accepts the price cap.

The aim of the measure is, on the one hand, to reduce the pressure on global oil markets and mitigate the impact of the war in Ukraine on energy prices. On the other hand, Russia would no longer benefit from rising oil prices to fill its war coffers.

Russian answer

Russia has threatened to stop selling oil to any country that accepts the price cap.

Will they?

Big boys fight, small guys get f****.

Thank you.

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