The federal government has announced it will lower the price cap for Russian-origin crude oil to US$47.60 per barrel, down ...

The cap is set to take effect Monday, the same day the European Union will impose a boycott on most Russian oil – its crude that is shipped by sea. The EU reached a deal for a $60-per-barrel ...

G7 leaders have agreed to study possible price caps on Russian oil and gas to try to limit Moscow's ability to fund its invasion of Ukraine, G7 officials said on Tuesday. The officials, who include ...

Kremlin spokesman Dmitry Peskov, asked in a conference call how the oil price cap might affect the war, said, “The economy of the Russian Federation has the necessary potential to fully meet all ...

The price cap mechanism set by the G7 and the EU says that Russian crude shipments to third countries can use Western insurance and financing if cargoes are sold at or below the $60-a-barrel ceiling.

The price cap on Russian oil exports to be imposed by G7 countries and Australia next month will apply only to seaborne cargoes through the first landed sale and will exclude shipping and trading ...

Both grades are also far lower than Brent futures, which stood at about $78.50 on Thursday. Argus’s figures are used by the Russian government to calculate export duties. They’re also cited regularly ...

WASHINGTON (AP) — The U.S. imposed new sanctions on alleged violators of a $60 per barrel price cap on Russian oil and tightened compliance rules for insurance firms and shippers, Wednesday.

G7 leaders have agreed to study possible price caps on Russian oil and gas to try to limit Moscow's ability to fund its invasion of Ukraine, G7 officials said on Tuesday. The officials, who ...