The revised cap replaces the static $60-per-barrel limit introduced by the G7 in December 2022. Under the new formula, the EU ...

Russian IT professionals are moving abroad en masse to avoid military mobilisation, industry leaders have warned, despite official assurances that key technology workers will not be called up to ...

The cap on Russian oil imposed by the West is hurting Moscow's export revenue, Finance Minister Anton Siluanov said. The Kremlin's budget deficit also could grow beyond a planned 2% in 2023, he added.

Russian IT professionals are moving abroad en masse to avoid military mobilisation, industry leaders have warned, despite official assurances that key technology workers will not be called up to ...

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 ...

The cap is set to take effect on Dec. 5, the same day the European Union will impose a boycott on most Russian oil — its crude that is shipped by sea. The EU was still negotiating what the price ...

U.S. Treasury Assistant Secretary for Economic Policy Ben Harris said on Sept. 9 that if China negotiates a separate 30-to-40 per cent discount on Russian oil because of the price cap “we ...

U.S. Treasury Secretary Janet Yellen has proposed the cap with other Group of 7 allies as a way to limit Russia’s earnings while keeping Russian oil flowing to the global economy.