Ukraine is urging the G7 to slash the price cap on Russian oil to $30 per barrel, down from the current $60, in a bid to tighten the financial screws on the Kremlin as its war drags into a third ...

A Group of Seven-imposed cap on the price of Russia oil is becoming increasingly unenforceable, an organization at the heart of the global insurance industry said, offering one of the most direct ...

Attempts by the European Commission to lower the price cap on Russian oil have encountered difficulties. Some EU countries are unwilling to take this step without the United States, Bloomberg informs.

BRUSSELS (AP) — The European Union wants to lower a cap on the price of Russian oil to deprive the Kremlin of extra profits to fund its war in Ukraine as part of a new raft of sanctions aimed at ...

The nations granted an exception to the $60-a-barrel cap through September for oil purchased by Japan. And in the first two months of this year, Japan bought around 748,000 barrels of Russian oil ...

Russian oil is being sold way above the $60 a barrel price cap, according to a group of researchers. A new paper estimates that Russian crude was trading at an average price of $74 a barrel in ...