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Reuters: G7 coalition has agreed to set fixed price cap on Russian oil

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The sources who spoke on conditions of anonymity told Reuters that the G7 and Australia have agreed to set a fixed price when they finalize a price cap on Russian oil later this month. The price cap, set to begin on Dec. 5 on crude and Feb. 5 on oil products, aims to limit funding to Russia without cutting supply to consumers. Russia has said it won't ship oil to countries that set price caps.

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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Regional authorities reported that a mass Ukrainian drone attack damaged a residential building, a gas pipe, and unspecified "commercial property." While the facility was not identified, the report follows a string of Ukrainian strikes on logistics centers serving the Russian e-commerce giant Wildberries.

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