28 June 2022

G-7 summit ends without agreement on Russian oil price caps


Leaders of some of the world’s largest economies ended their summit Tuesday with an agreement to explore ways to impose a price cap on Russian oil, falling short of the Biden administration’s goal of concluding with a deal in place. Instead, the heads of the Group of Seven nations reached a consensus to discuss options on limiting the price of Moscow’s oil exports, which Russia is using to finance its war in Ukraine. Still, the White House hailed the consensus as a victory that will make it [...]