Group of Seven finance ministers agreed on Friday to impose a price cap on Russian oil aimed at slashing revenues for Moscow’s war in Ukraine while avoiding price spikes, but Russia said it would halt oil sales to countries imposing it. The ministers from the G7 wealthy democracies confirmed their commitment to the plan after a virtual meeting. They said, however, that key details, including the per-barrel level of the price cap would be determined later “based on a range of technical inputs” to be agreed by the coalition of countries implementing it.
Published in The Express Tribune, September 3rd, 2022.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ