G7-led coaltion renews efforts to enforce Russian oil price cap

$A view shows the Russian oil producer Gazprom Neft\\'s Moscow oil refinery on the south-eastern outskirts of Moscow on April 28, 2022. (Photo by Natalia KOLESNIKOVA / AFP) Image used for illustrative purpose.$

A view shows the Russian oil producer Gazprom Neft's Moscow oil refinery on the south-eastern outskirts of Moscow on April 28, 2022. (Photo by Natalia KOLESNIKOVA / AFP) Image used for illustrative purpose.

The price cap is aimed at reducing Russia's ability to finance its war in Ukraine

William James, Reuters News

October 12, 2023

PHOTO
A view shows the Russian oil producer Gazprom Neft's Moscow oil refinery on the south-eastern outskirts of Moscow on April 28, 2022. (Photo by Natalia KOLESNIKOVA / AFP) Image used for illustrative purpose.

LONDON - The Group of Seven-led coalition of countries is renewing efforts to ensure the effective enforcement of price caps on seaborne Russian oil, it said on Thursday in a statement published by the British government.

The price cap is aimed at reducing Russia's ability to finance its war in Ukraine.

(Reporting by William James, writing by Sachin Ravikumar)

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