strike in our kids, more destruction and suffering in a war that is showing no sign of ending kharkiv. a move by the g7, the seven largest advanced economies, australia and the european union, to the price of russian oil is hoped to bring an end this war close up. they have agreed to restrict the price of russian oil at $60 a barrel, hoping to wound russian with another financial sanction. wound russian with another financial sanction. this price has three financial sanction. this price has three objectives. - financial sanction. this price has three objectives. first, | financial sanction. this price | has three objectives. first, it strengthens the effect of our sanction. second, it will further diminish russia s revenues. and thirdly, at the same time, it will stabilise global energy markets. the limit will come global energy markets. the limit will come in global energy markets. the limit will come in on - global energy markets. the limit will come in on monday after the
but a move by the g7 the world s seven largest advanced economies australia and the european union, to cap the price of russian oil is hoped to bring an end this war closer. they ve agreed to restrict the price of russian oil at $60 a barrel hoping to wound russia with another financial sanction. this price cap has three objectives. first, it strengthens the effect of our sanction. second, it will further diminish russia s revenues. and thirdly, at the same time, it will stabilise global energy markets. the limit will come in on monday, after the eu persuaded poland to back the plan after warsaw initially considered it too high. and some market experts believe it s more of a symbol of rebellion against the kremlin, than a realistic financial weapon.
and some market experts believe it s more of a symbol of rebellion against the kremlin, than a realistic financial weapon. they want one measure in place to suddenly contribute to that discount being bigger, but is not as large a some wanted, and the fact it has taken the eu so long to agree on a cap is because some countries which tend to be hawkish on russian wanted that cap to be much lower. other experts say sanctions like this are hurting russia, but president vladimir putin is still making huge amounts of money through oil. the kremlin denounced the scheme, saying it would not supply those countries which enforced a price cap. before the war, more than half of russia s oil exports went to europe, but russia has found new markets in india and china and new money to fund its war. louisa pilbeam, bbc news.
to this war closer. they ve agreed to restrict the price of russian oil at $60 a barrel, hoping to wound russia with another financial sanction. this price cap has three objectives. first, it strengthens the effect of our sanction. second, it will further diminish russia s revenues. and thirdly, at the same time, it will stabilise global energy markets. the limit will come in on monday, after the eu persuaded poland to back the plan after warsaw initially considered it too high. and some market experts believe it s more of a symbol of rebellion against the kremlin than a realistic financial weapon. they want one measure in place to suddenly contribute to that discount being bigger, but not as large as some wanted, and the fact it s taken the eu so long to agree on a cap is because some countries which tend
initially considered it too high. and some market experts believe it s more of a symbol of rebellion against the kremlin than a realistic financial weapon. they want one measure in place to suddenly contribute to that discount being bigger, but not as large as some wanted, and the fact it s taken the eu so long to agree on a cap is because some countries which tend to be hawkish on russia wanted that cap to be much lower. other experts say sanctions like this are hurting russia, but president vladimir putin is still making huge amounts of money through oil. the kremlin denounced the scheme, saying it would not supply those countries which enforced a price cap. before the war, more than half of russia s oil exports went to europe, but russia has found new markets in india and china, and new money to fund its war. louisa pilbeam, bbc news.