Opportunities to Circumvent Russian Oil Price Cap Will be Limited — G7 Statement

According to Alexander Novak, Russia would halt oil and petroleum products supplies to countries deciding to cap the Russian oil price

© Yegor Aleyev/TASS

BERLIN, September 2. /TASS/. The Group of Seven (G7) intends to introduce restrictions against the circumvention of capped prices for Russian oil, G7 Finance Ministers said in their joint statement on Friday.

"We would aim to limit possibilities for circumventing the price cap regime, while at the same time minimizing the administrative burden for market participants," the ministers said in the document.

Russia would halt oil and petroleum products supplies to countries deciding to cap the Russian oil price, Deputy Prime Minister Alexander Novak said on Thursday.

Gazprom halts Nord Stream gas supplies until turbine gas damage cured — company

During activities at gas compressor unit of Portovaya compressor station, performed jointly with Siemens representatives, Gazprom found oil leakage with sealing compound admixture along terminal connections of cable lines of low and intermediate pressure rotor speed sensors

MOSCOW, September 2. /TASS/. Gazprom has identified damages during activities at the last operating gas compressor unit of the Nord Stream pipeline and has to completely halt pumping until they are cured, the Russian gas company said on Friday.

During activities at gas compressor unit (GCU No. 24) of Portovaya compressor station, performed jointly with Siemens representatives, Gazprom found oil leakage with sealing compound admixture along terminal connections of cable lines of low and intermediate pressure rotor speed sensors, the company said.

"The letter on detected malfunctions of Trent 60 (No. 24) unit and the need to cure them was sent to President and Chief Executive Officer of Siemens Energy AG Christian Bruch. Gas transport to the Nord Stream gas pipeline is completely halted until remedial actions for equipment operation," the gas holding informed.