Get all your news in one place.
100's of premium titles.
One app.
Start reading
Reuters
Reuters
Business
Angelo Amante and Sarah Marsh

G7 agrees to explore cap on Russian oil price

U.S. President Joe Biden meets with German Chancellor Olaf Scholz, French President Emmanuel Macron, Italian Prime Minister Mario Draghi and British Prime Minister Boris Johnson alongside the G7 leaders summit at Bavaria's Schloss Elmau, near Garmisch-Partenkirchen, Germany June 28, 2022. REUTERS/Jonathan Ernst

The Group of Seven economic powers have agreed to explore imposing a ban on transporting Russian oil that has been sold above a certain price, they said on Tuesday, aiming to deplete Moscow's war chest.

The war in Ukraine and its dramatic economic fallout, in particular soaring food and energy inflation, dominated this year's summit of the group of rich democracies at a castle resort in the Bavarian Alps.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.