Proposed Russian oil price cap revealed ...News

The G7 is reportedly considering setting a price ceiling in the range of $65-70 per barrel The Group of Seven (G7) is considering setting a price cap on Russian sea-borne oil in the range of $65-70 per barrel, Reuters reported on Wednesday. EU leaders gathered on Wednesday to discuss the G7 proposal with the goal of reaching a general agreement by the end of the day. The price cap on Russian shipped oil is expected to come into force on December 5, as part of sanctions introduced by the US, the European Union and their allies. “The G7 apparently is looking at a $65-70 per barrel bandwidth,” the unnamed diplomat to

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