G7 nations are 'very, very close' to deal on a $60 a barrel price cap on Russian seaborne oil to limit Moscow's ability to fight against Ukraine, a G7 official says, as fighting enters its 282nd day Follow our live coverage:👇
The cap is aimed at limiting Russian oil revenues while maintaining adequate supplies for the global market. The Group of Seven nations are "very, very close" to an agreement on a $60 a barrel price cap on Russian seaborne oil with an adjustment mechanism to keep the cap at 5 percent below the market price, a senior G7 coalition official has said.
The official told reporters that the deal should be finalised in the coming days or Monday at the latest and expressed confidence that the price cap would limit Russia's ability to fight its conflict against Ukraine. G7 officials had been in close touch with markets about the price cap, and they seemed "pretty comfortable" with the mechanism, which is aimed at limiting Russian oil revenues while maintaining adequate supplies for the global market, the official said.Ukraine's top security officials have ordered an investigation into the activities of a branch of the Orthodox Church linked historically to Moscow, President Volodymyr Zelenskyy has said.
He said the probe would look into whether the Moscow branch of the church was entitled to operate at one of Ukraine's most hallowed sites — the Pechersk Lavra complex in Kiev."We have to create conditions so that no actors dependent on the aggressor state can manipulate Ukrainians and weaken Ukraine from within," Zelenskyy said.
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