G7 countries agree plan to impose price cap on Russian oil

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Aim is to cut revenues for Moscow’s war in Ukraine but keep crude flowing to avoid price risesRussia-Ukraine war – latest updatesThe G7 countries have agreed to impose a price cap on Russian oil in an attempt to stem the flow of funds into the Kremlin’s war coffers.Finance ministers from the UK, US, France, Germany, Italy, Japan and Canada have agreed a plan to put a ceiling on Russian oil prices. The proposal would mean importers seeking shipping services and insurance cover from companies based in G7 and EU countries would need to adhere to a price cap to transport Russian oil. Continu ...

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