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G7 leaders at their summit on Tuesday in the Bavarian Alps (Photo: Council of the European Union)

G7 leaders want price cap on Russian oil

The G7 leaders of the wealthiest democracies agreed on Tuesday (28 June) to look into the ban of transporting Russian oil sold above a certain price, with the aim of depriving Moscow of revenue without fuelling further inflation.

The leaders of the US, Canada, Britain, France,Germany, Italy and Japan have gathered in the Bavarian Alps amid soaring energy prices and inflation as Russia's war in Ukraine in its fifth month ravages the world economy.

The leaders warned that the war ...

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Author Bio

Eszter Zalan is a Hungarian journalist who worked for Brussels-based news portal EUobserver specialising in European politics, focusing on populism and Brexit.

G7 leaders at their summit on Tuesday in the Bavarian Alps (Photo: Council of the European Union)

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Author Bio

Eszter Zalan is a Hungarian journalist who worked for Brussels-based news portal EUobserver specialising in European politics, focusing on populism and Brexit.

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