Japanese Official Kihara: G7 Will Debate Cap on Russian Oil Prices

In a statement on Wednesday, Japanese Deputy Chief Cabinet Secretary Seiji Kihara indicated that the G7 members would address the "exact price cap figure for Russian oil as necessary."

July 06, 2022 - 11:58 AM 259 views

Japanese Official Kihara: G7 Will Debate Cap on Russian Oil Prices

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© Japanese Official Kihara: G7 Will Debate Cap on Russian Oil Prices

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In a statement on Wednesday, Japanese Deputy Chief Cabinet Secretary Seiji Kihara indicated that the G7 members would address the "exact price cap figure for Russian oil as necessary."

The G7 had agreed to talk about the price cap, and PM Kishida's remarks were based on that understanding, the author continued.

The Market Reaction

WTI was last seen trading unchanged at $98.05 after encountering resistance above the $100 level.

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