US, G7 leaders will try to cap price of Russian oil ...Egypt

Western leaders gathering at the G7 have decided to try capping the price of Russian oil, officials say. It’s the latest step toward punishing Moscow while attempting to mitigate the economic effects of the war in Ukraine. How, when and by how much the price of Russian oil will be capped remains to be seen. Officials said the precise mechanism for accomplishing the cap was still being worked out. Leaders said they will instruct their teams to work toward finding a way to limit the price at which Russia can sell its oil, depriving Moscow of a key revenue source. “The goal here is to starve Russia, starve (Russian President Vladimir) Putin of his main source of cash and force down the price o

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