G7 agrees to price cap on Russian oil ...Middle East

The G7 agreed to a price cap on Russian oil Friday as Moscow countered with its own plans to halt energy flows to Europe amid an already fraught European energy situation. The group of seven advanced global economies agreed that they would refuse to ship oil from Russia if it is sold at a price higher than the price cap, an attempt to curb Russian profits from the sale of the fuel. “Today we confirm our joint political intention to finalise and implement a comprehensive prohibition of services which enable maritime transportation of Russian-origin crude oil and petroleum products globally – the provision of such services would only be allowed if the oil and petroleum products are pu

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G7 agrees to price cap on Russian oil ...Middle East

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