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G-7 Latest: Leaders Promote Idea of Price Caps on Russian Energy

Day Two of The G-7 Summit
Photographer: Liesa Johannssen-Koppitz/Bloomberg
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Group of Seven leaders agreed that they want ministers to urgently look into how prices of Russian oil and gas can be curbed to limit revenues flowing to President Vladimir Putin, though exactly how the initiatives would work remained unclear.

“We reaffirm our commitment to phase out our dependency on Russian energy,” the leaders said in a joint statement Tuesday following their three-day summit in the Bavarian Alps. “In addition, we will explore further measures to prevent Russia from profiting from its war of aggression.”