Russia rejects West's $60 per barrel oil price cap
- Recently, the EU reached a deal Friday for a $60-per-barrel price cap on Russian oil, a key step as Western sanctions aim to reorder the global oil market to starve President Vladimir Putin of funding for his war in Ukraine.
Russia has rejected a $60 per barrel price cap on its seaborne crude oil decided by the European Union, the Group of Seven (G7) nations, and Australia a few days ago.
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