WASHINGTON (AP) — The Group of Seven nations and Australia joined the European Union on Friday in adopting a $60-per-barrel price cap on Russian oil, a key step as Western sanctions aim to reorder the global oil market to prevent price spikes and starve President Vladimir Putin of funding for his war in Ukraine. Europe... read full story
"primary source of revenue for his illegal war in Ukraine while simultaneously preserving the stability of global energy supplies."
Photo: FILE - Sept. 10, 2011 file photo photo showing an oil rig near the town of Usinsk, 1500 kilometers (930 miles) northeast of Moscow. The European Union's executive commission has proposed phasing out imports of Russian oil within six months. It is part of Europe's struggle to stop paying Russia $850 million a day for energy and hit the Kremlin's finances over its invasion of Ukraine. (AP Photo/Dmitry Lovetsky)