EconomyEnergyPolitics The G7 nations are set to cut back the worth ceiling for Russian oil to $45 per barrel, with out Trump’s approval. Monday, June 16, 2025

The EU and its G7 allies search to achieve the US’ consent to decrease the ceiling worth for Russian oil from $60 to $45 per barrel on the summit deliberate for June 15-17 in Canada, in line with EU Particular Consultant for Sanctions David O’Sullivan.

“Whereas I perceive that President Trump seeks to advertise peace, it’s clear to anybody observing the negotiations that Mr. Putin isn’t occupied with peace,” O’Sullivan remarked.

He indicated that preliminary discussions about decreasing the worth ceiling have taken place amongst G7 representatives, reaching a consensus that $45 is the “appropriate” stage. Nevertheless, he famous that the American representatives made it clear that the ultimate verdict would come from the White Home.

“We’ve robust backing for this from Canada and the UK, so I consider there are various who will advocate and argue for a transfer to $45,” the EU particular consultant emphasised.

Regardless, most G7 nations are ready to again a lower within the most worth for Russian oil to $45, even when the US president decides towards it. Regardless of this, the share of G7+ international locations collaborating within the transportation of Russian oil elevated from 35% in January to 54% in Might 2025.