UK and G7 allies consider tightening ‘meaningless’ cap on Russian oil exports
by Jillian Ambrose Energy correspondent from World news | The Guardian on (#6WKDG)
Limit of $100 a barrel said to be ineffective with the price of crude having crashed in response to Trump's trade war
The UK and its G7 allies are considering tightening the meaningless" cap on Russian oil export prices after Donald Trump's trade war caused global oil markets to crash.
UK Treasury officials are understood to be actively considering plans to lower the $60 (46) a barrel cap on Russian oil exports after the market plunged to $59.77 a barrel for the first time in more than four years this week.
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