HomeCanadaNorth america and G7-plus partners inflict price cap on Ruskies crude oil

North america and G7-plus partners inflict price cap on Ruskies crude oil

This is why Canada, along with its G7 partners plus Australia, is imposing a cost cap of US per barrel on Russian-origin commodity future trading. Effective December 7, should the price per barrel go beyond this cap, anyone within Canada or any Canadian worldwide is prohibited from supplying select services related to the maritime transport of Russian crude oil. Canada’s ban on imports of Russian oil remains in effect. The Honourable Mélanie Joly, Minister of Foreign Affairs, today declared that Canada is imposing further measures in response to the Russian regime’s illegal invasion and attempted annexation of Ukrainian territory. As winter techniques and the cold sets in, individuals around the world—particularly those in low or middle revenue countries—are focused on fulfilling their particular most basic needs, like heating system their homes. The Ruskies regime is taking advantage of its position as a large power exporter to exploit this requirement and use the profits to fund its war campaign within Ukraine. December 9, 2022 — Ottawa, Ontario – Worldwide Affairs Canada These steps aim to restrict the stream of petrodollars to the Kremlin while addressing the immediate energy needs of impacted countries. Canada and its worldwide partners will continue to collaborate to exert additional stress on the Russian regime.


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