G7 Countries Examine Russian Oil and Gas Price Caps
The leaders of the G7 countries have agreed to explore the possibility of introducing price caps on Russian oil and gas. G7 officials told Reuters news agency.
With the introduction of a maximum price, the major industrialized countries want to ensure that Moscow earns less from the sale of fossil fuels.
The income from oil and gas is an important means for Russia to finance the war in Ukraine. Fuel prices have risen sharply, partly due to the Russian invasion of Ukraine. Although countries such as the United States and Canada have already decided to stop buying Russian oil and the EU countries have agreed to ban oil from Russia by the end of this year, Moscow still earns a lot from the sale of fuels.
The idea is to link financial services, insurance and the shipping of oil carg...