G-7 Nears Agreement on Exploring New Sanction Capping Russian Oil Price


The Group of Seven membership of rich democracies is inching towards an settlement on increasing its sanctions towards Russia by on the lookout for a mechanism to cap the acquisition value of Russian oil, officers mentioned, however the particulars are nonetheless being labored out.

The transfer, below dialogue on the three-day G-7 summit within the Bavarian Alps that started Sunday, would come on high of a ban on the purchase of Russian gold, officers mentioned. They mentioned oil is essentially the most profitable export for the Kremlin, whereas gold makes up a big a part of the state revenues that fund Russian President Vladimir Putin’s warfare.


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