Ukraine Wants Lower Cap On Russian Oil, At $30-$40 Per Barrel

The price for Russian seaborne oil should be capped at between $30-$40 per barrel, lower than the level that Group of Seven (G7) nations have proposed, Ukrainian President Volodymyr Zelenskiy said on November 26. EU governments, seeking to curb Moscow's ability to fund the Ukraine war without causing an oil supply shock, are split over a G7 push that the cap be set at $65-$70 per barrel. It is due to enter into force on December 5. To read the original story from Reuters, click here.