Richard Foord

Richard Foord

Liberal Democrat — Honiton and Sidmouth

Speaking in the House of Commons on 15 May 2025

Debate

Sanctions Implementation and Enforcement

Contribution

The G7 oil price cap prevents us from selling shipping and insurance services to companies carrying Russian oil when it is sold above $60 per barrel. I appreciate that the Minister might say that he cannot preannounce future sanctions—I think we all understand that—but has the UK advocated with G7 allies for reducing that price cap further, given that in recent weeks, the price of crude oil has dropped below $60 per barrel?

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