G7 countries will decide on developing mechanisms to set a global price cap for Russian oil in shipments to countries outside of the U.S., EU, the UK, and the broader G7.
"The goal here is to starve Russia — starve Putin of his main source of cash and force down the price of Russian oil to help blunt the impact of Putin's war at the pump", a Senior Biden Administration official said in a background press call ahead of the Second Day of the G7 Summit in Germany.
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by Joji Xavier
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