MONTEVIDEO (Pakistan Point News / Sputnik - 08th July, 2022) Brazil will not support the initiative of the G7 countries to cap prices on the imports of Russian oil, the country's foreign ministry told Sputnik on Friday.
During the G7 meeting in Germany on June 28-30, the leaders of the seven most economically advanced countries issued a communique saying that the oil price cap scheme could be implemented through the options such as allowing Russian seaborne crude oil and petroleum products to be shipped worldwide only if they are purchased at or below an agreed price threshold.
"As it is not part of the G7, Brazil does not follow its internal deliberations," the ministry said in a written response to the agency's request.
Russian Deputy Foreign Minister Sergey Ryabkov earlier called the West's plans to cap Russian oil prices another element of psychological warfare.
