MOSCOW (Pakistan Point News / Sputnik - 09th September, 2022) German Finance Minister Christian Lindner said on Friday that he was going to call on the European Union member states to support the price cap on Russian oil as proposed by G7 at the informal meeting of the Economic and Financial Affairs Council (ECOFIN).
"I will be inviting all members of the EU to support the idea of an oil price cap in the G7 context, we reached an agreement that we are supportive to an oil price cap. We want to avoid higher revenues for Russia, and we want to secure, to maintain the price level for our economies, and one favorable mean is the oil price cap, and it is more effective when more member states of the EU support this idea," Lindner said ahead of the ECOFIN meeting in Prague.
Last Friday, European Commission President Ursula von der Leyen said that the EU might introduce limits on the price of Russian natural gas as well after G7 finance ministers confirmed their intention to impose price caps for Russian oil as part of the expanded sanctions against Moscow. Russia pledged to stop its energy exports to the states that would impose the limits.
