G7 to explore cap on Russian oil price

By Angelo Amante and Sarah Marsh
Updated June 28 2022 - 1:01pm, first published 12:55pm
German Chancellor Olaf Scholz says Vladimir Putin must accept his plans in Ukraine will not succeed.

The Group of Seven economic powers have agreed to explore imposing a ban on transporting Russian oil that has been sold above a certain price, aiming to hit Russian President Vladimir Putin's war chest.

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