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February 02
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G7 countries are considering a price cap on Russian offshore oil in the range of $65-70 per barrel. This was reported by Reuters, citing an EU diplomat.

Ambassadors from 27 EU countries discussed the proposal with the aim of reaching a common position by the end of the day.

The G7, which includes the United States, the EU and Australia, will impose a price cap on Russian offshore oil exports on Dec. 5 as part of sanctions against Russia.

 

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