The Seven Kingdoms Group reached an agreement on Russia's oil limit price limit

US Finance Minister Yellen issued a statement on the 2nd stating that the Treasury Secretary of the Seven Kingdoms had reached an agreement on Russian oil prices.

The Seven Groups include the United States, the United Kingdom, France, Germany, Japan, Italy and Canada.Yellen said that it is expected to finalize the specific implementation plan of the upper limit in the next few weeks.

Russian Presidential Press Secretary Peskov said on the same day that the plan to implement restrictions on oil prices "very ridiculous" will lead to serious instability in the oil market.If a non -friendly country sets the upper limit of Russian energy prices, Russia will start supplying oil to countries operating according to market conditions.Medvedev, vice chairman of the Russian Federal Security Conference, also said that if the EU implements the upper limit of price, Russia will no longer supply natural gas to Europe.

According to the recent data released by the International Energy Agency, despite the decline in Russian oil exports, due to the rise in oil prices, Russian oil export revenue increased by 700 million US dollars month -on -month, which was 40 % higher than last year.

Source: Xinhua News Agency

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