The price of Russia’s flagship oil may have jumped above a Group of Seven imposed cap but that has done little to impede the provision of western services for the trade. The number of ships calling at the nation’s ports …
The Biden administration is poised to increase outreach to western trading houses, insurers and tanker owners to remind them to abide by the Group of Seven’s price cap on Russian oil as the crude trades over that level, sources and …
Russia’s flagship Urals crude oil breached a price cap set by the Group of Seven, a blow to western sanctions efforts and arguably an economic win for Moscow. According to price reporting agency Argus Media, Urals crude topped $60 a …
Leaders of the world’s richest democracies agreed on Friday to stiffen sanctions against Russia, while a draft communique to be issued after their talks in the Japanese city of Hiroshima stressed the need to reduce reliance on trade with China. …
Group of Seven advanced nations should adopt “risk-based” regulation on artificial intelligence, their digital ministers agreed on Sunday, as European lawmakers hurry to introduce an AI Act to enforce rules on emerging tools such as ChatGPT. But such regulation should …
SAPPORO, Japan — The Group of Seven rich nations on Sunday set big new collective targets for solar power and offshore wind capacity, agreeing to speed up renewable energy development and move toward a quicker phase-out of fossil fuels. But …
The Group of Seven rich nations, the European Union and Australia have set price caps for Russian diesel and other refined petroleum products to keep markets supplied while limiting Moscow’s revenues when an EU embargo kicks in. The EU measure, …
European Union countries agreed to set price caps on Russian refined oil products to limit Moscow’s funds for its invasion of Ukraine, the Swedish presidency of the EU said on Friday. EU diplomats said the price caps are $100 per …
Western oil tankers ramped up their shipments of Russian crude in January as prices for Moscow’s flagship Urals grade held below an international price cap, according to market sources and Eikon data. The Group of Seven nations (G7), Australia and …
The G-7 sanctions on Russian oil, which include a $60 per barrel price cap and restrictions on key services such as insurance, may have unintended consequences, according to a maritime insurance specialist. One of those consequences is the creation of …
