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G7’s Russia oil price cap cut to proceed without US support

TradeWinds · last updated

The majority of G7 nations are likely to go it alone on lowering the price cap for Russian oil exports, even if the US opts out, sources have told Reuters.

The report cited four people familiar with the matter as saying the European Union and the UK are prepared to push for the ceiling to be lowered from $60 per barrel to $45.

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