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MNI BRIEF: G7 Considering Russia Oil Price Cap - EU Official

(MNI) London
(MNI) Brussels

G7 communique could suggest looking at further caps on Russian Oil, Gas an EU official says.

True

Leaders of the G7 will consider capping Russian oil prices and will look into doing the same for gas, an EU official said today, with he comments come as the German G7 presidency prepares to issue its communique. “Many questions need to be discussed and clarified. It’s a complex market,” the official said.

Other countries present at the G7 meeting in Germany have argued for the price cap to be imposed on all oil producers, while France and Italy are reported to have had some objections to an oil price cap, arguing that such a plan would not work.

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Leaders of the G7 will consider capping Russian oil prices and will look into doing the same for gas, an EU official said today, with he comments come as the German G7 presidency prepares to issue its communique. “Many questions need to be discussed and clarified. It’s a complex market,” the official said.

Other countries present at the G7 meeting in Germany have argued for the price cap to be imposed on all oil producers, while France and Italy are reported to have had some objections to an oil price cap, arguing that such a plan would not work.

Keep reading...Show less