The European Commission (EC) is reported to be planning a “floating” price cap on Russian oil shipments. The measure will be ...

G7 Oil Price Cap About To Get More Complicated By Alex Kimani - Jan 12, 2023, 7:00 PM CST. Capping Russian oil product prices is likely to prove a much more onerous task than capping its crude.

The European Commission is set to propose a new floating oil price cap targeting Russian crude, adjusting to global market ...

Officials in G7 countries, including U.S. Treasury Secretary Janet Yellen, say the unprecedented measure, set to begin Dec. 5, will cut the price Russia receives for oil without reducing its ...

A number of oil-importing countries are considering joining the G7's plan to cap the price of Russian oil, Deputy U.S. Treasury Secretary Wally Adeyemo said on Thursday, adding that the group ...

G7 pledges to impose a price cap on Russia oil. By Geir Moulson, David McHugh, Associated Press. India and China increasingly welcome shunned Russian oil. By Krutika Pathi, Elaine Kurtenbach ...

The global drop in oil prices has rendered the current US$60 cap nearly irrelevant, prompting renewed discussions about lowering the price cap on Russian oil. G7 leaders are scheduled to meet from ...

Most countries in the Group of Seven nations are prepared to go it alone and lower the G7 price cap on Russian oil even if U.S. President Donald Trump decides to opt out, ...

Price caps on Russian oil and gas have managed to drive ... told City A.M. the sanctions and cap mechanism unveiled by the G7 this year has achieved ... head of commodity strategy at Saxo ...

Established in the 1970s to show solidarity in shepherding the global economy, the G7 finds itself at a crossroads on its 50th anniversary. The gathering of the world's richest democracies has faced ...

G7 country leaders are due to meet on June 15-17 in Canada where they will discuss the price cap first agreed in late 2022. The cap was designed to allow Russian oil to be sold to third countries ...