The Latest Breaking News from G7

George H.W. Bush could have helped Gorbachev in 1991. Instead, he paved the way to Vladimir Putin and the oligarchs

Shutdown over ‘oil leak’ comes only hours after G7 nations agree to impose a price cap

Energy war with west has exploded after weeks of tension

Russian energy company had been due to resume gas delivery to Germany on Saturday morning

France's Energy Transition Minister on Friday called for "collective responsibility" to avoid energy rationing this winter as she announced that France's fleet of nuclear reactors would be fully operational by the winter. The news comes as G7 countries agreed to "urgently" implement Russian oil price cap.

Finance ministers from the Group of Seven industrial powers have pledged to put in place a system designed to cap Russia’s income from oil sales, an idea the nations’ leaders had promised to explore in June

The cap is expected to be introduced in December for crude oil and for petroleum products in February

The Group of Seven most industrialized countries said they plan to implement a price cap for global purchases of Russian oil — a measure the U.S. hopes will ease energy market pressures and slash Moscow’s overall revenues.

It's aimed at limiting the invasion's effect on energy prices and preventing Russian profits from oil exports.