Ukraine Latest: Price Cap on Russian Oil Mulled; Doubts on Grain
A Ukrainian serviceman inspects a destroyed building in Kharkiv, Ukraine, on July 5.
Photographer: Sergey Bobok/AFP/Getty Images
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The US and its allies have discussed trying to cap the price on Russian oil between $40 and about $60 a barrel, according to people familiar with the matter, as they seek to limit the Kremlin’s ability to finance its war on Ukraine.
German Chancellor Olaf Scholz accused Russian President Vladimir Putin of using natural gas deliveries as a political weapon. European natural gas resumed its rally as traders focused on the risk of potential disruptions from top supplier Russia.