UK and G7 allies look at lowering ‘meaningless’ cap on Russian oil exports
The UK and its G7 allies are contemplating tightening the cap on Russian oil export prices, deemed "meaningless" after a significant drop in crude prices due to Donald Trump's trade war. UK Treasury officials are reportedly considering reducing the current cap of $60 (£46) per barrel, as oil prices fell to $59.77 a barrel for the first time in over four years. This response reflects concerns over the effectiveness of the existing price limit amidst...
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