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.
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.