The U.S. has joined the European Union, the Group of Seven nations, and Australia to cap the price of Russian oil at $60 a barrel.
The U.S. has been in detailed talks with allies for months about setting a price cap on Russian oil to reduce the country’s revenue as it continues its invasion in Ukraine. The cap also ensures oil can keep flowing to the global market, preventing a spike in global oil prices as governments around the world work to tamp down multi-decade highs in…
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