G7 to discuss Russian oil price cap – Bloomberg ...News

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G7 to discuss Russian oil price cap – Bloomberg
The US and its allies expect the measure will help ease energy market pressures Finance ministers from the Group of Seven (G7) developed Western economies are planning to discuss the introduction of a price cap on Russian oil exports on Friday, Bloomberg reported on Thursday, citing US officials. The measure is aimed at reducing Russian revenues from crude exports and easing the pressures the global oil market is currently facing. “This is the most effective way, we believe, to hit hard at [Russian President Vladimir] Putin’s revenue and doing so will result in not only a drop in Putin’s oil revenue but also globa

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