G7 Plans to Shake Up Price Cap on Russian Oil Exports: Could the Cost of Oil Soar in 2021? #shorts

Latest Headlines | "G7 Plans to Shake Up Price Cap on Russian Oil Exports: Could the Cost of Oil Soar in 2021?" | #shorts #news

G7 officials have decided to re-evaluate the value of the price cap on Russian oil exports which was established back in December 2022. This cap, which was imposed by the G7 economies, EU, and Australia, restricts the sale of Russian oil to no more than $60 per barrel. This action is part of a broader set of Western sanctions that were put in place in response to Russia's invasion of Ukraine. The US Treasury recently declared that a review of the price cap will take place in March.

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#G7 #RussiaOilExports #PriceCap #EU #Australia #WesternSanctions #Ukraine #USTreasury #MarchReview #news

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