Finance ministers from the Group of Seven industrial powers have pledged to put in place a system designed to cap Russia’s income from oil sales, an idea the nations’ leaders had promised to explore in June.
FILE - Britain's Chancellor of the Exchequer Rishi Sunak, center back, and U.S. Treasury Secretary Janet Yellen, back right, during a meeting of finance ministers from across the G7 nations at Lancaster House in London, on June 4, 2021. . The aim is to reduce Russia’s revenues and, by doing so, its ability to fund its war in Ukraine, while also limiting the impact of the war on global energy prices.
Meanwhile, skyrocketing energy prices have fed inflation that is squeezing consumers in rich and poor countries alike and threatens to push Europe into recession. The statement did not give any proposed figure for a potential price cap and also did not specify when the G-7 aims to finalize the plan. It said that “we invite all countries to provide input on the price cap's design and to implement this important measure,” calling for a “broad coalition in order to maximize effectiveness.”
Russian Deputy Prime Minister Alexander Novak has said Russia will refuse to sell oil to countries or companies that observe the cap.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Maturo Stradale – Group A Lancia Integrale reimagined for the road | EvoMaturo Competition Cars has reimagined the Group A Lancia Delta Integrale with its road-going Stradale, limited to ten units -
Les mer »
Société Générale/UniCredit Group merger option ‘back on the table’: reportA cross-border merger between Italy’s UniCredit Group (UCG) and France’s Société Générale could resume once the latters’ CEO steps down next year, according...
Les mer »
Green Group Blasts Biden for Backing Big Oil's California Offshore Fracking Push'It's incredibly disappointing to see the Biden administration doing the oil industry's bidding by defending fracking off the California coast,' says Center for Biological Diversity's Kristen Monsell.
Les mer »
Alabama’s ‘botched’ execution of Joe Nathan James was longest in US history, group claimsThe process to execute James took more than three hours, Reprieve US claims, which could be the longest in U.S. history.
Les mer »
PolitiFact - GOP Senate group off the mark with claim that Barnes backs abolishing ICEDemocratic U.S. Senate candidate Mandela Barnes has said multiple times he backs reforming ICE, not eliminating it like the National Republican Senatorial Committee claims.
Les mer »
Federal Working Group: Rapid Response Team to Support Energy Communities in The Four CornersFederal Working Group Announces Establishment of Rapid Response Team to Support Energy Communities in The Four Corners
Les mer »