The European Commission has proposed reducing the price cap on Russian oil exports in a bid to tighten sanctions, further restricting the Kremlin’s revenue streams. The proposal, led by Commission
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The UK and its G7 allies are contemplating a reduction of the current cap on Russian oil export prices, deemed ineffective by experts. The existing limit of $60 per barrel
Oil prices surged to their highest levels since August as refiners in India and China desperately sought alternative supplies following stringent new US sanctions targeting Russian oil revenues. Brent crude,
