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Russian Oil Faces Price Cap Under New G-7 Plan

The Group of Seven rich nations rolled out a plan to cap the price of Russian oil on international markets, committing to a novel sanctions design geared toward limiting Russia’s income from oil gross sales as its invasion of Ukraine grinds on.

The finance ministers of the G-7 mentioned they’d transfer to ban the insurance coverage and financing of shipments of Russian oil and petroleum merchandise until they’re bought below a set value cap.

Related Topics:C&E Exclusion Filter cap commodity Commodity Markets Commodity/Financial Market News Content Types crude oil Crude Oil/Natural Gas Downstream Operations Dmitry Peskov Energy Energy Markets Faces Factiva Filters financial market news Financial Services Fossil Fuels freight insurance general news Group of Seven Industrial Goods Insurance International Relations International Sanctions Janet Yellen Marine Insurance natural gas downstream operations Non-life Insurance Oil Plan political Political/General News Politics Politics/International Relations Price Russian SYND Transport Transport/Freight Insurance Ukraine Ursula von der Leyen Wally Adeyemo World news WSJ-PRO-WSJ.com

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