BRUSSELS: The Group of Seven (G7) and the European Union agreed on Friday on a $60-a-barrel price cap on Russian oil in an attempt to deny the Kremlin of war resources, as Russia's President Vladimir Putin said more strikes on Ukrainian infrastructure were "inevitable."
The price cap, previously negotiated on a political level between the group of seven wealthy democracies and the EU, will come into effect with an EU embargo on Russian crude oil from Monday.
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