Reported about 12 hours ago
The European Commission has suggested implementing a floating price cap on Russian oil, set at 15% below the average crude market price of the last three months, as the G7 seeks to restrict Russia's war funding. This proposal emerges as Brent crude prices have recently increased, and the current cap of $60 per barrel has become less relevant amidst falling oil futures. The revised cap aims to accommodate concerns of EU maritime states, although it requires unanimous approval from member nations.
Source: YAHOO