Canada will support lowering the price threshold for russian oil

This was announced by the Canadian government.

The price cap will be lowered from $60 to $47.60 per barrel.

‘Lowering the price cap will weaken russia's ability to finance its illegal war and put new pressure on Putin's military apparatus. The necessary changes to Canadian legislation are planned to be introduced in the coming weeks,’ the statement said.

The statement added that the price reduction mechanism recognises supply chain constraints in global energy markets and minimises negative economic consequences. The mechanism allows for adjustments to be made so that price caps can be lowered even further in the future.

Source: Ekonomic Pravda