Agreement by G7, EU and Australia to cap the price paid for crude oil at $60 a barrel could lead to a fall in Russian output of 500,000 barrels a day
The G7, EU and Australia have agreed to cap the price of Russian seaborne crude oil at $60 a barrel, in a move that could result in Russian oil output falling by 500,000 barrels a day by early 2023.
The G7 and Australia said in a statement the price cap would take effect on 5 December or very soon thereafter.The US president, Joe Biden, said on Thursday that he was prepared to speak to the Russian president, Vladimir Putin, Three people were killed and seven wounded in Russian shelling of the southern Ukrainian region of KhersonRussian-installed authorities in Ukraine’s southern Kherson region said that they would start evacuating some people with reduced mobility
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