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Free AccessMNI BRIEF: G7 Considering Russia Oil Price Cap - EU Official
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.
The leaders will also state in the communique that they are moving towards an import ban on Russian gold, although EU27 leaders will also need to be consulted before this can be implemented.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.