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Ukraine Says Oil-Price Cap Won’t Dent Russia’s Ability to Fund War

KYIV, Ukraine—Ukraine denounced a value cap on Russian oil agreed to by the U.S. and its allies as a weak measure that may fail to deprive Russia’s navy machine of funds, as Moscow stated it may cease supplying shoppers in response.

The Group of Seven agreed Friday to cap the price of Russian oil at $60 a barrel, transferring ahead with an unprecedented sanction in opposition to one of many world’s largest producers following its invasion of Ukraine.

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