G7 to implement Russian oil price cap ‘urgently’

Russia has warned that it would stop supplying oil to countries that impose restrictions

G7 industrialised powers vowed Friday to “urgently” move towards implementing a price cap on Russian oil imports in a bid to cut a major source of funding for Moscow’s war in Ukraine.

The aim of the price cap on oil exports was to “stop an important source of financing for the war of aggression and contain the rise in global energy prices”, he added.

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