Russian oil faces price cap under new G-7 plan


The wealthy Group of Seven nations have set in motion a plan to cap the price of Russian oil on world markets, embarking on a new design of sanctions aimed at limiting Russia’s revenue from oil sales as its invasion of Ukraine continues.

G-7 finance ministers have said they will ban insurance and financing of shipments of Russian oil and petroleum products unless they are sold within a set price cap.


Wj

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