THE US and its allies are hoping to establish the price level at which Russian crude oil will be capped, people familiar with the talks told the Wall Street Journal on Tuesday. Officials are talking about setting the price at US$60 per barrel and will meet today to try to come to some agreement on prices.
The G7 plan to cap the price of Russian crude oil goes into effect on December 5, and the EU will ban Russian crude oil imports from the same date. The US-led price capping mechanism of the G7...
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