The G7 countries are planning to strengthen their rules for limiting prices for importers of Russian oil starting February 20.Currently, carriers and insurance companies must provide a declaration confirming that Russia’s oil price does not exceed the established threshold of $60 per barrel.
At the same time, Japan proposed to strengthen these rules and require this document to be shown at every shipment.
Also, this month the UK will call on EU countries to stop importing Russian LNG over fears that it could end up in the country’s energy system. The import of Russian LNG to Britain is prohibited since 2023. However, experts say that due to the complex pipeline networks used to transport gas across the continent and some EU countries are still importing it directly from Russia, it is impossible to rule out Britain’s dependence on gas from Russia unless LNG imports stop throughout Europe.
However, despite the sanctions, millions of barrels of fuel from Russian oil are refined in other countries such as India and imported into the UK.