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    Home » G7 and allies approve cap on price of Russian oil – BBC News
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    G7 and allies approve cap on price of Russian oil – BBC News

    morshediBy morshediMay 31, 2025No Comments1 Min Read
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    G7 and allies approve cap on price of Russian oil – BBC News
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    The G7 group and its allies have formally accredited a cap on the value of Russian oil.

    In a joint assertion, the G7 and Australia stated the value cap would come into power on 5 December or “very quickly thereafter”.

    The plan, which stops international locations paying greater than $60 (€57; £48) a barrel, wanted the settlement of all EU states.

    It comes after the EU agreed on the value cap after persuading Poland to again it.

    The worth cap was put ahead by the G7 group of countries in September and goals to cease Moscow cashing in on oil exports whereas avoiding a worth spike.

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    #Russia #G7 #BBCNews

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