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

by The Kyiv Independent news desk November 4, 2022 1:25 AM 1 min read
This audio is created with AI assistance

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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