UK Urges Cut to Russian Oil Price Cap at G-7 to Pressure Putin
Vladimir Putin on May 19, in a photo released by Russian state media.
Photographer: Alexander Kazakov/AFP/Getty Images
The UK urged its Group of Seven allies to agree a cut to the price cap on Russian oil, saying the move is necessary to put further pressure on President Vladimir Putin to end Russia’s war in Ukraine.
“Pressure on Russia’s war machine is needed now more than ever,” the UK’s Treasury said in a statement on Wednesday, after Chancellor of the Exchequer Rachel Reeves chaired a session on Ukraine at the G-7 finance ministers’ meeting in Banff, Canada. “Putin has failed to engage in good faith with proposals from Zelenskiy to meet directly and attempts to broker a ceasefire from his illegal and brutal war.”