The Latest Breaking News from G7

The price cap on Russian oil agreed by the European Union (EU), G7 and Australia is set to come into force on Monday. It aims to restrict Russia's revenue while making sure Moscow keeps supplying the global market.

Air alerts blared across Ukraine and officials urged civilians to take shelter from a wave of deadly Russian missile strikes that caused major power outages. The strikes followed what the Kremlin said were Ukrainian drone attacks on two air bases deep inside Russian territory. Read our live blog to see…

The Saudi-led OPEC oil cartel and allied producers including Russia did not change their targets for shipping oil to the global economy amid uncertainty about the impact of new Western sanctions against Russia that could take significant amounts of oil off the market. Follow our blog to see how the…

The measure is aimed to reduce Russia’s income from selling oil

Ukraine’s Western allies approve oil price cap to starve Russia of revenues as Kyiv pushes for a lower cap of $30.

Russia said on Saturday it would continue to find buyers for its oil, despite what it said was a "dangerous" attempt by Western governments to introduce a price cap on its oil exports. A coalition of Western countries led by the G7 group of nations agreed on Friday to cap…

The cap is designed to curb Russia’s revenues from oil without halting significant volumes of exports, which could lead to supply shortages and push up prices globally

The Kremlin on Saturday said it would not accept a price cap on Russian oil agreed by the EU, G7 and Australia. The agreement caps Russian seaborne crude oil at $60 per barrel and is aimed at limiting Moscow’s funds for the Ukraine war. Read FRANCE 24's liveblog below to…

The £48 per barrel price cap will come into effect in early December, but Ukraine says it’s not low enough