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G-7 Weighs Russia Oil-Price Cap Via Insurance, Shipping Ban

  • Mechanism would set threshold for Russian crude transportation
  • Agreement in principle could be reached at summit in Germany
Tankers moored dockside at the port in Tuapse, Russia.

Tankers moored dockside at the port in Tuapse, Russia.

Source: Bloomberg

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Group of Seven nations are discussing a cap on the price of Russian oil that would work by imposing restrictions on insurance and shipping, according to people familiar with the matter.