-The price cap on Russian oil agreed by the EU, G7 and Australia is set to come into force on Monday. It aims to restrict Russia’s revenue while making sure Moscow keeps supplying the global market. Photo: Reuters/File
-The price cap on Russian oil agreed by the EU, G7 and Australia is set to come into force on Monday. It aims to restrict Russia’s revenue while making sure Moscow keeps supplying the global market. Photo: Reuters/File
Russia

Ukraine war: oil rises as G7 price cap on Russian supplies kick in, as West tries to limit Moscow’s war machine

  • G7 price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow’s ability to finance its war in Ukraine
  • Russia said it would continue to find buyers, despite what it said was a ‘dangerous’ attempt by the West to introduce a price cap on its oil exports

-The price cap on Russian oil agreed by the EU, G7 and Australia is set to come into force on Monday. It aims to restrict Russia’s revenue while making sure Moscow keeps supplying the global market. Photo: Reuters/File
-The price cap on Russian oil agreed by the EU, G7 and Australia is set to come into force on Monday. It aims to restrict Russia’s revenue while making sure Moscow keeps supplying the global market. Photo: Reuters/File
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