G7 countries do not plan to call for oil price cuts - Bloomberg
The Group of Seven is struggling to agree on a draft communique to mark three years since Russia’s invasion of Ukraine after an initial draft was significantly watered down.
This is reported by Boomberg, Censor.NET informs.
The newspaper notes that the negotiators ‘abandoned the reference to the allies instructing their finance ministers to limit or adapt the price limit on Russian oil to encourage Moscow to negotiate, which was in the original version’.
Bloomberg reminds that this is happening against the backdrop of the splits highlight worsening divisions among the allies as President Donald Trump pursues unilateral 'peace negotiations' with Russia — and without Europe or Ukraine —- aimed at ending the conflict.
The latest draft seen by Bloomberg, dated Feb. 19, says that "strong security guarantees and Ukraine’s EU integration will be critical to secure a lasting peace that prevents future aggression."
It is noted that’s 'softer language' than an initial version that called for a peace "that does not reward aggression or license future wars" through "a durable security guarantee for Ukraine, with troops and resources on the ground, coupled with robust international oversight to monitor agreed-upon lines."
It is also noted that a reference to Atlantic integration in the draft communiqué has also been removed.
The G-7 has routinely referred to Russia’s full-scale invasion of Ukraine, and the initial draft also called it "illegal," but the most recent version changed that to a "devastating war that began with Russia’s invasion of Ukraine."
The diplomats told Bloomberg on condition of anonymity, allies will continue to negotiate the text and further changes.
"G-7 foreign ministers were able to agree to a text just last weekend at the Munich Security Conference where they discussed "Russia’s devastating war in Ukraine" and its "war of aggression," and officials hope that a similar landing zone can be found this time," Bloomberg writes.
Earlier it was reported that the G7 countries would discuss lowering the oil price limit to hit the Russian economy.
