The price cap bans Western companies from providing services such as transportation, insurance and financing for the oil sold above the cap. According to Reuters data, Russian Urals crude has been ...

Addressing the Dutch parliament, Zelenskyy reiterated the need for ever stricter diplomatic and economic isolation of Russia.

Israel's attack on Iran and the U.S.'s rejection of tougher oil sanctions could boost Russia's revenues from its key export.

A price cap set by the Group of Seven (G7) as well as an outright ban by the European Union on Russian seaborne oil came into effect on Monday as the two blocs try to reduce the Kremlin’s ...

The price of Russian crude oil has risen above a price cap set by the Group of Seven nations, in the first “real test” of whether the West can enforce one of its key sanctions against Moscow.

Most Russian fuel exports from the Baltic and Black Sea regions are now pricing above a price cap set in February by a G7-led coalition designed to limit Moscow's revenues in the aftermath of its ...

The European Union shelved a plan for a stricter price cap on Russian oil exports over concerns that the US won’t back ...

The G7's price cap on Russian energy exports is an example of Western policymakers trying to have their cake and eat it, too. It's also one that is likely to fail.

The $ 60-per-barrel price cap on Russian crude oil, which came into effect on Monday, looks pretty straightforward. Buyers paying $60 or less per barrel of Russia’s crude will have full access ...

The Biden administration is poised to increase outreach to western trading houses, insurers and tanker owners to remind them to abide by the Group of Seven's price cap on Russian oil as the crude ...

The approach reflects a desire by Washington to encourage buyers to adhere to the $60 per barrel cap imposed last December on sea-borne exports of Russian crude by the G7, the European Union and ...