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G-7 Negotiators Put Russia Oil Price Cap on Agenda for Leaders

  • Follows intense talks among lead negotiators in Germany
  • Still multiple obstacles to such a price cap being finalized
Oil pump jacks in an oilfield near Neftekamsk, in the Republic of Bashkortostan, Russia.

Oil pump jacks in an oilfield near Neftekamsk, in the Republic of Bashkortostan, Russia.

Source: Bloomberg

Updated on

Group of Seven negotiators agreed that discussions on a potential price cap on Russian oil had progressed enough to send the issue to leaders to discuss at their summit in Germany, according to people familiar with the matter.

The negotiators known as sherpas held what one official described as “intense” talks on the matter in the Bavarian Alps before the summit began Sunday.