Biden, G7 Leaders Move Towards Price Capping Russian Oil To Punish Moscow

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President Joe Biden and the G7 leaders discussed plans to put a price cap on Russian oil Sunday to reduce Moscow’s oil profits and weaken its war effort in Ukraine.

National Security Advisor Jake Sullivan said that the G7 countries are on the path to reaching an agreement to enact a price cap at a press briefing today. However, there is still uncertainty about how a price cap could be properly implemented.


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