The EU agreed to cap the price of Russian oil at $60 a barrel, paving the way for G-7 signoff. The move aims to keep oil flowing, but limit Moscow's revenue.
a $60 a barrel cap on the price of Russian oil
Friday, paving the way for the Group of Seven advanced democracies to launch the unprecedented mechanism on Monday, diplomats said. The EU agreement came after resolving a last-minute push by Poland to lower the cap, which the European Commission, the bloc’s executive body, had originally proposed should be between $65 and $70 per barrel.
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