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G7 and allies approve a cap on the price of Russian oil

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G7 and allies approve a cap on the price of Russian oil

The G7 group and its allies have officially approved a cap on the price of Russian oil.

Axar.az reports that in a joint statement, the G7 and Australia said the price cap would come into force on 5 December or "very soon thereafter".

It comes after the European Union agreed on the price cap after persuading Poland to back it.

The plan, which stops countries paying more than $60 (€57; £48) a barrel, needed the agreement of all EU states.
Date
2022.12.03 / 12:56
Author
Axar.az
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