- Home
- Business
- Beijing on Oil Price Cap: All Should Make Constructive Efforts to Secure Global Supplies
Beijing On Oil Price Cap: All Should Make Constructive Efforts To Secure Global Supplies
Mohammad Ali (@ChaudhryMAli88) Published December 05, 2022 | 12:50 PM
BEIJING (UrduPoint News / Sputnik - 05th December, 2022) China calls on all parties to make constructive efforts to secure global oil supplies, Chinese Foreign Ministry spokeswoman Mao Ning said on Monday, commenting on a price cap on oil from Russia.
Last week, the European Union reached an agreement on setting a price cap on Russian oil at $60 per barrel, which went into effect on Monday. The cap will be reviewed every two months to remain at 5% below International Energy Agency benchmark. The G7 nations and Australia also agreed that same day to set a $60 price ceiling on oil from Russia.
"Oil is one of the world's major commodities, and ensuring the security of the global energy supply is paramount. We believe that all parties should make constructive efforts to this end," the spokeswoman told reporters.
When asked whether Beijing will join to the price cap, the diplomat said that China and Russia conduct energy cooperation on the basis of respect and mutual benefit.
Related Topics
Recent Stories
44 arrested for kite flying in 24 hours
Boao forum for Asia 2024 concludes on successful note
Turkey's Erdogan to hold White House talks with Biden in May
Rana Mashhood appointed chairman PM's Youth Programme
IGP inspects under-construction safe city building, Liaquat Bagh Service Center
IG says security of foreign nationals, projects to be ensured at all cost
President Biden writes letter to PM Shehbaz, expresses best wishes for newly ele ..
DC Larkana chairs meeting regarding Youm-e-Ali arrangements
Interior Minister visits FC headquarters Peshawar
One dies, 28 injured after passenger bus overturned
US Fed's favored inflation gauge ticks higher as fuel costs rise
IESCO notifies 2-day power suspension programme
More Stories From Business
-
US Fed's favored inflation gauge ticks higher as fuel costs rise
45 minutes ago -
ICCI, CDA sign MoU for upgrading, maintaining public washrooms
48 minutes ago -
Prudent policies lead to sustainable economic recovery: Finance Ministry
2 hours ago -
Minister for Finance and Revenue Muhammad Aurangzeb holds meeting with SBP Governor
48 minutes ago -
Exchange rates for currency notes
3 hours ago -
PTC rebuts misleading tax loss figures, seeks fair market competition
4 hours ago
-
Economy commences on better note in 2024: Finance Minister
4 hours ago -
Gold rates up by Rs.3,800 to Rs.234,800 per tola
4 hours ago -
SACM directs authorities to find out solution to problems of miners, crush plants
4 hours ago -
Weekly inflation falls slightly
4 hours ago -
Uzbekistan's Ambassador, Pakistan’s Commerce minister forge path for enhanced economic ties
4 hours ago -
Finance Minister calls for reforming tax system to improve country's economy
5 hours ago