G7 Countries Have Reach An Agreement To Cap The Price Of Russian Oil

Daily Mail: G7 agrees Russian oil price cap to slash funding for Putin's war in Ukraine – but officials fear India and China could scupper the move

* Ministers from the G7 confirmed commitment to the plan after a virtual meeting

* They said, however, the per-barrel level of the price cap would be determined later 'based on a range of technical inputs' to be agreed by the coalition

* There are concerns measure won't be effective without likes of India and China

* Both have sharply increased purchases of Russian crude since Putin invaded

* And in a threat to the G7 nations, the Kremlin warned on Friday that it would stop selling oil to countries that impose price caps on Russia's energy resources

The G7 agreed to impose a Russian oil price cap on Friday to slash funding for Putin's war in Ukraine, while keeping crude flowing to avoid price spikes.

However, there are concerns among some officials that the cap could be scuppered without the participation of major importers such as China and India, which have sharply increased their purchases of Russian crude since Vladimir Putin invaded.

And in a threat to the G7 nations, the Kremlin warned earlier on Friday that it would stop selling oil to countries that impose price caps on Russia's energy resources, saying such a move would lead to significant destabilisation of the global oil market.

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WNU Editor: Russia says it will simply not sell oil to countries with price caps .... Russia says it will stop selling oil to countries that set price caps (Reuters).

G7 Countries Have Reach An Agreement To Cap The Price Of Russian Oil

Live: G7 countries agree to 'urgently' implement Russian oil price cap -- France 24

Ukraine war: G7 agrees to impose price cap on Russian oil -- BBC

G-7 nations back plan to cap Russian oil prices in a bid to drain the Kremlin’s war chest -- CNBC

G7 finance ministers agree to price cap on Russian oil -- DW

G7 countries agree plan to impose price cap on Russian oil -- The Guardian

G7 countries agree to cap the price of Russian oil -- CNN

G7 countries back plan to cap price of Russian oil -- Axios

Kremlin: G7's Russia Oil Price Cap Will Destabilize Market, But Moscow Has 'Alternative Scenarios' -- Sputnik

G7 unveils plan to enforce Russian oil price cap -- RT