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Russia's Medvejev: Oil could exceed $ 300- $ 400 if Japan's price cap is implemented

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Reuters

Reuters

Moscow — Former Russian President Dmitry Medvejev said on Tuesday that a reported proposal from Japan to limit the price of Russian oil to about half its current price drastically reduced oil in the market. Barrel said it could push prices up from $ 300 to over $ 400.

Regarding the alleged proposal by Prime Minister Fumio Kishida, Mr. Medvejev said Japan "has no oil or gas from Russia and will not participate in the Sakhalin 2LNG project." result.

G7 leaders could introduce temporary import price caps on Russian fossil fuels, including oil, last week in an attempt to limit Russian resources to fund military operations in Ukraine Agreed to investigate sex. (Report by Reuters, edited by Jason Neely)