Indian imports of Russian oil hit a record 1.2 million barrels a day in December, and 1.3 million barrels a day in the first ...

G-7 officials have agreed to review the level of the price cap on exports of Russian oil in March, later than originally ...

The European Commission is proposing that the EU set a $100 per barrel price cap on premium Russian oil products like diesel and a $45 per barrel cap on discounted products like fuel oil, an EU ...

Russia's war in Ukraine is hitting Africans particularly hard by exacerbating food insecurity and putting an unnecessary drag ...

Ukrainian President Volodymyr Zelenskyy said the decision to impose a $60 price cap on Russian seaborne oil can’t be called “a serious decision” as that level is “quite comfortable” for Russia's ...

The Biden administration is inclined to oppose any move to lower the price cap on exports of Russian crude oil, despite a ...

European Union countries have agreed to put a cap on Russian oil prices of $60 per barrel, bringing an end to days of arguments over how hard to hit Vladimir Putin's fossil fuel revenues. According to ...

The European Union is floating a plan to cap the price of Russian diesel at $100 a barrel — a level that may be high enough ...

The price cap, which was led by the G-7 wealthy democracies, aims to prevent a sudden loss of Russian oil to the world that could lead to a new surge in energy prices and further fuel inflation.

The rationale for the price cap is that with world oil prices ranging between about $70 and $80 the cap will reduce Russia’s income for fighting the war in Ukraine but will be enough above Russia’s ...