Category: Group of Seven

Corporate Bankruptcies Are Set to Reach a Decade-Long High

New data shows that 2023 is shaping up to be the biggest year for Chapter 11 filings in more than a decade.
How the G7 Oil Price Cap Has Helped Choke Revenue to Russia

Group of 7 leaders are prepared to celebrate the results of a novel effort to stabilize global oil markets and punish Moscow.
For Biden, Debt Limit Crisis Complicates Trip to Asia

Volatility has become the new norm in Washington as the president heads to Japan, where he will reassure world leaders that the debt ceiling showdown will not upend the global economy.
Russia Sidesteps Western Punishments, With Help From Friends

The New York Times – Business:
A surge in trade by Russia’s neighbors and allies hints at one reason its economy remains so resilient after sweeping sanctions.
EU Embargo of Russian Oil and G7’s Price Cap Take Effect

The New York Times – Business:
An immediate impact on oil supplies in Europe was not expected, partly because the embargo has been in the works for months.
Amid Churning Oil Market, OPEC and Russia Leave Production Unchanged

The New York Times – Business:
The group, OPEC Plus, reaffirmed an output cut in October as “the right course of action” but outlined no further changes before an E.U. embargo of Russian oil begins on Monday.
Ukraine’s Allies Agree on Russian Oil Price Cap

The New York Times – Business:
The plan to impose a top price of $60 a barrel on Russian crude will most likely make a small dent in the Kremlin’s revenue, but the White House hopes it will help avert an oil shock.
E.U. agrees on Russian oil price cap of $60 per barrel after fraught talks.

The New York Times – Business:
The price cap, devised by Group of 7 countries and their allies, aims to limit Russia’s revenue while averting a global oil shock.
David Lipton, Economic Diplomat, Will Step Down From Treasury

The New York Times – Business:
Mr. Lipton, who served in senior roles in the Clinton and Obama administrations and at the I.M.F., is retiring.
Ukraine’s Allies Struggle to Agree on Plan to Curb Russia’s Oil Revenue

The New York Times – Business:
The policy must be in place before an E.U. embargo on Russian oil imports kicks in on Dec. 5. The talks are set to resume next week.
Ukraine’s Allies Struggle to Agree on Plan to Curb Russia’s Oil Revenue

The New York Times – Business:
The policy must be in place before an E.U. embargo on Russian oil imports kicks in on Dec. 5. The talks are set to resume next week.
EU Nears Cap on the Price of Russian Oil

The New York Times – Business:
E.U. diplomats aim to agree on a price this week, clearing the way to enforce the measure before a Dec. 5 deadline.