Image: ReutersThe Group of Seven nations and Australia on Friday said they had agreed on a $60 per barrel price cap on Russian seaborne crude oil
The G7 and Australia said in a statement the price cap would take effect on December 5 or very soon thereafter. The price cap, a G7 idea, aims to reduce Russia’s income from selling oil, while preventing a spike in global oil prices after an EU embargo on Russian crude takes effect on December 5.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: EU closes in on $60 cap for Russian oil as Poles hold out for tougher actionThe European Union is closing in on a deal to cap the price of Russian crude oil at $60 a barrel, their latest attempt to clinch an agreement before a Monday deadline, according to people familiar with the matter.
Source: dailymaverick - 🏆 3. / 84 Read more »
G7 coalition agrees $60 per barrel price cap for Russian oil - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Group of Seven (G7) nations and Australia on Friday said they had agreed a $60 per barrel price cap on Russian seaborne crude oil after European Union members overcame resistance from Poland and hammered out a political agreement earlier in the day.
Source: SABCNews - 🏆 37. / 51 Read more »