Group of Seven – Page 8

Ukraine’s Allies Agree on Russian Oil Price Cap

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.

By Matina Stevis-Gridneff Jim Tankersley and Alan Rappeport

Embargoes and Sanctions European Union Group of Seven International Relations Oil (Petroleum) and Gasoline Prices (Fares, Fees and Rates) Russian Invasion of Ukraine (2022)

E.U. agrees on Russian oil price cap of $60 per barrel after fraught talks.

The price cap, devised by Group of 7 countries and their allies, aims to limit Russia’s revenue while averting a global oil shock.

By Matina Stevis-Gridneff Jim Tankersley and Alan Rappeport

Biden, Joseph R Jr Group of Seven International Monetary Fund Oil (Petroleum) and Gasoline Prices (Fares, Fees and Rates) Treasury Department Trump, Donald J United States International Relations

David Lipton, Economic Diplomat, Will Step Down From Treasury

Mr. Lipton, who served in senior roles in the Clinton and Obama administrations and at the I.M.F., is retiring.

By Alan Rappeport

Embargoes and Sanctions Europe European Union Group of Seven International Relations Oil (Petroleum) and Gasoline Russia Russian Invasion of Ukraine (2022) Supply Chain Ukraine United States International Relations

Ukraine’s Allies Struggle to Agree on Plan to Curb Russia’s Oil Revenue

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.

By Matina Stevis-Gridneff Jim Tankersley and Alan Rappeport

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