Russia Ukraine War Live Russian Oil Output Estimated To Fall As G7 Commits To Price Cap Ukraine
The EU agreed the price after holdout Poland gave its support, paving the way for formal approval over the weekend. In a statement, the Group of Seven leading economies and Australia said the price cap would take effect on 5 December or very soon after. The price cap aims to reduce Russia’s income from selling oil, while preventing a spike in global oil prices after an EU embargo on Russian crude oil takes effect on 5 December....