Russia[/B] is considering setting a floor price for international sales of Russian oil in response to the cap imposed by the Group of Seven most industrialized countries (G7), Blooomberg reported.
Moscow is considering either imposing a fixed price for barrels of Russian oil or setting maximum discounts on international benchmarks at which it can be sold, the agency reported, citing two officials with knowledge of the plan.
The G7 cap on the price of Russian oil shipped by sea took effect today as the West seeks to limit Moscow's ability to fund its war in Ukraine, but Russia has said it will not comply with the measure even if it has to cut production.
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