G7 Ready To Reveal Its Russian Oil Price Cap Plan ...Middle East

Energy markets on Friday can expect a decision on a G7 plan for capping the price of Russian oil, even if the group’s finance ministers remain uncertain about how such a price-fixing scheme would work.  According to the Wall Street Journal, citing unnamed sources familiar with the matter, G7 finance ministers will reveal the price cap plan and commit to its implementation during a Friday meeting.  The plan is likely to include a ban on financing and insurance by G7 nations for Russian oil shipments that are not sold within the confines…

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