G7 in last talks on international value cap for Russian oil amid power price surge

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The leaders of the Group of Seven industrialized international locations are in last talks on looking for a world value cap on Russian oil in its newest transfer to stress Moscow over its conflict in Ukraine whereas planning to roll out extra steps to assist Kyiv, akin to by utilizing revenues from tariffs imposed on Russian merchandise, a U.S. official stated Monday.

Later the identical day, the G7 leaders pledged to face with Ukraine “for so long as it takes” by cranking up sanctions on Russia and backing safety commitments for Kyiv in a post-war settlement.

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