G-7 Aims to Announce Russian Oil Price Cap Level Next Week
A worker guides pipes at a gas drilling rig in the Lensk district of the Sakha Republic, Russia.
Source: Bloomberg
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Group of Seven nations aim to announce at what level they will set a price cap on Russian crude oil next Wednesday, according to people familiar with the matter.
The Biden administration is expected to privately share a proposed price ahead of a meeting of European Union ambassadors scheduled for Nov. 23, the people said, speaking on condition of anonymity to discuss internal deliberations.