{"id":1628732,"date":"2022-08-31T17:51:31","date_gmt":"2022-08-31T21:51:31","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1628732"},"modified":"2022-08-31T17:51:41","modified_gmt":"2022-08-31T21:51:41","slug":"g7-to-discuss-proposed-russian-oil-price-cap-on-friday-white-house-says","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/g7-to-discuss-proposed-russian-oil-price-cap-on-friday-white-house-says\/","title":{"rendered":"G7 to discuss proposed Russian oil price cap on Friday, White House says"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fg7-to-discuss-proposed-russian-oil-price-cap-on-friday-white-house-says%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1628732&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Jeff Mason and Trevor Hunnicutt<\/p>\n<p>WASHINGTON (Reuters) -Finance ministers from the Group of Seven club of wealthy nations will discuss the Biden administration\u2019s proposed price cap on Russian oil when they meet on Friday, the White House said.<\/p>\n<p>\u201cThis is the most effective way, we believe, to hit hard at Putin\u2019s revenue and doing so will result in not only a drop in Putin\u2019s oil revenue, but also global energy prices as well,\u201d said White House spokesperson Karine Jean-Pierre at a briefing for reporters on Wednesday.<\/p>\n<p>\u201cIt will be discussed further this week at the G7 finance ministers meeting \u2026 happening on Friday.\u201d<\/p>\n<p>G7 leaders are discussing how to craft such a price cap and have considered other alternatives, including blocking the transportation of Russian oil.<\/p>\n<p>The G7 is made up of Britain, Canada, France, Germany, Italy, Japan, and the United States. <\/p>\n<p>Many countries have imposed sanctions on Russia following its invasion of Ukraine, which Moscow calls a \u201cspecial military operation,\u201d but key oil consumers China and India have stepped up imports of discounted Russian barrels to record levels.<\/p>\n<p>Despite Russia\u2019s oil exports hitting their lowest levels since last August, its export revenue in June increased by $700 million month on month due to higher prices, 40% above last year\u2019s average, the International Energy Agency said last month.<\/p>\n<p>Western leaders have proposed addressing that through an oil price cap to limit how much refiners and traders can pay for Russian crude \u2013 a move Moscow says it will not abide by and can thwart by shipping oil to states not obeying the price ceiling.<\/p>\n<p>Some traders and oil market analysts have expressed doubts a price cap would work as Russia has found ways to ship its oil to Asia without the use of Western ship insurance. Moscow could also stop exports of some oil altogether, leading to a further spike in energy prices.<\/p>\n<p>G7 members have scrambled to find ways to plug energy shortages and tackle soaring prices while sticking to their climate commitments amid the tensions with Russia.<\/p>\n<p> (Reporting by Jeff Mason and Trevor Hunnicutt; Editing by Mark Porter and Andrea Ricci)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2743627\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7U103-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7U103-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Jeff Mason and Trevor Hunnicutt WASHINGTON (Reuters) -Finance ministers from the Group of Seven club of wealthy nations will discuss the Biden administration\u2019s proposed price cap on Russian oil<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1628732","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1628732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1628732"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1628732\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1628732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1628732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1628732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}