The G7 Summit, scheduled to take place from June 15 to 17 in Kananaskis, Canada, will include discussions on reducing the price ceiling for Russian oil to $30 per barrel. Oleksandr Khara, an expert on foreign affairs and security policy at the Center for Defense Strategies, said this. “We anticipate increased pressure on Russia. Foreign Minister Andrii Sybiha has proposed a new price ceiling for Russian oil at $30 per barrel (it is set at $60 per barrel now – ed). While it remains uncertain whether the G7 will agree to this (following the summit), it is interesting that Saudi Arabia's Crown Prince Mohammed bin Salman and Indian Prime Minister Narendra Modi are among the invitees. Mohammed bin Salman has the ability to ramp up oil production, which could drive prices lower even without a formal G7 agreement. Meanwhile, India has been purchasing Russian oil in large volumes, and it is unlikely to halt these imports,” he said.