G7 agrees to review level of price cap on Russian oil in March, says US


Source: theprint.in theprint.in

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Washington: Group of Seven officials have agreed to review the level of the price cap on exports of Russian oil in March, later than originally planned in order to give time to assess the market after more caps are placed on oil products from Russia, the U.S. Treasury said on Friday. The G7 economies, the European Union and Australia agreed on Dec. 5 to ban the use of Western-supplied maritime insurance, finance and brokering for sea-borne Russian oil priced above $60 per barrel as part of Western sanctions on Moscow for its invasion of Ukraine. The coalition plans on Feb....