G7 Finance Ministers To Discuss Russian Oil Price Cap On Friday - White House

G7 finance ministers will discuss the possibility of a price cap on Russian oil in order to cut the country's rising energy revenues during a meeting later this week, White House Strategic Communications Coordinator John Kirby said on Wednesday

WASHINGTON (UrduPoint News / Sputnik - 31st August, 2022) G7 finance ministers will discuss the possibility of a price cap on Russian oil in order to cut the country's rising energy revenues during a meeting later this week, White House Strategic Communications Coordinator John Kirby said on Wednesday.

"This is exactly why the president and the G7 leaders directed their relevant members of their team back at the G7 to explore this idea of a global price cap for Russian oil ... The timing of that report and the question are good, because this is going to be discussed later this week at the G7 finance ministers meeting on Friday," Kirby said when asked about an International Energy Agency report saying Russian oil revenue is up 40% from last year despite Western sanctions over the special military operation in Ukraine.