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G-7 Rolls Out Plan to Cap Price of Russian Oil
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wsj.comThe Group of Seven wealthy nations rolled out a plan to cap the price of Russian oil on global markets, committing to a novel new sanctions plan aimed at limiting Russia’s revenue from oil sales as its invasion of Ukraine grinds on.
In a statement, the finance ministers of the G-7 said they would move to ban the insurance and financing of shipments of Russian oil and petroleum products unless they are sold under a set price cap.
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