G7 price cap

NEW DELHI: A top buyer of Russian oilis bracing for trading trouble as the price of Urals, the country’s main export grade, breaks through a $60-a-barrel cap set by Western nations to curb Moscow’s revenue.India and China have been the two…

As India continues to import discounted crude oil from Russia, on which the G7 has sought to impose a price cap, amid Moscow's war with Ukraine, Philipp Ackerman, the German envoy to India, said he does not blame the Indian government for…

Russia announced Friday that will cut oil production by 500,000 barrels per day next month after western countries capped the price of its crude over its action in Ukraine. “As of today, we fully sell all our crude output, but as we…

A price cap and European Union embargo on most Russian oil have cut into Moscow’s revenue from fossil fuels, but the Kremlin is still earning substantial cash to fund its war in Ukraine because the US$60-per-barrel cap was “too…

Russia shrugged off a Western-imposed price cap on its oil exports on Monday, warning that it would not disrupt its military campaign in Ukraine.The $60-per-barrel price cap agreed by the European Union, G7 and Australia aims to restrict…

The Russian oil price cap will most likely not affect buyers like India and China.Though India imports from Russia are lesser than what it imports from other oil exporting nations, India on previous occasions have said that they will…

The price cap on Russian oil exports to be imposed by G7 countries and Australia next month will apply only to seaborne cargoes through the first landed sale and will exclude shipping and trading costs, a coalition official said on…

The Group of Seven countries is working to cap the price of Russian oil in an attempt to limit Moscow’s ability to fund its invasion of Ukraine, a plan analysts say could work in the long term but might boost oil prices in coming…