G7 agrees to cap Russian petroleum prices
Canada today joined its G7 partners — Britain, France, Germany, Italy, Japan and the U.S. — in agreeing to contain the costs of imported Russian crude oil and petroleum products in a bid to curb its ability to fund its war in Ukraine. Beginning in early December, the initiative would ban “services which enable maritime transportation of Russian-origin crude oil and petroleum products globally” above a price cap to be set by “a broad coalition” of countries. Russia had already threatened to ban exports to countries that implement a cap. [node:read-more:link]