US Official: G7 still working on precise mechanism to implement price cap on Russian oil

With G7 Summit underway, a US official said on Monday that the G7 is close to setting a global price cap for Russian oil.

Additional comments

“To issue coordinated steps tomorrow to raise pressure on Russia.”

“Targeting services for transporting Russian oil is a 'promising avenue'.”

“US will impose higher tariffs on Russian goods worth about $2.3 billion.”