Skip to main content

Proposed price cap on Russian oil moves closer at G7 summit

Western leaders hope to tighten vice around Vladimir Putin without causing backlash at home or in global south

A proposed cap on the price of Russian oil and pipeline gas to slash the Kremlin’s revenues and reduce inflationary pressures in the west gathered support on Sunday as G7 leaders met in Bavaria.

The three-day event will be dominated by discussion of how to tighten the economic and military vice around Vladimir Putin without leading to disastrous spillovers, including a backlash among western consumers and starvation in a rain and grain starved global south.

Continue reading...

from The Guardian https://ift.tt/BKQhV7A
Labels:

Comments

Post a Comment

Popular posts from this blog

Despite Unleashing COVID-19, Expert Predicts China Could Emerge from Pandemic with Even Stronger Hold on Other Nations

Tensions between the US and China are growing, fueled by COVID-19 and accusations of dishonesty. One result is Americans are suing Beijing, seeking to hold it accountable for the worldwide pandemic. Those efforts could backfire, however, such that China not only evades consequences but potentially benefits from the pandemic. from CBNNews.com https://ift.tt/3aVp0Ba
Post a Comment
Read more