G7: Emmanuel Macron in favor of a “cap” on Russian oil prices

SCHLOSS ELMAU, Germany, June 28 (Reuters) – French President Emmanuel Macron backed a price cap for Russian gas and the subsequent establishment of a comparable mechanism for Russian gas, during a press conference after the G7 summit in Germany.

This ceiling, necessary in his view so that the surge in oil prices stops contributing to the financing of Russia’s “war chest”, was the subject of a political consensus within the G7 but must be extended to a “alliance of buyers” in order to be able to define a ceiling and make it effective, explained the French president.

(Report John Irish, written by Myriam Rivet, edited by Sophie Louet)