One of the topics for discussion at the G7 summit over the weekend was a price cap on Russian oil.

The United States has suggested a price cap decided by consuming countries

Reuters cited an unnamed German government source saying G7 leaders were having “really constructive” talks on a possible price cap. And:

A French presidency official said Paris would push for a price cap on oil and gas and was open to discussing the US proposal. However, he said the G7 needed to work towards getting a maximum oil price and this needed the buy-in of oil producers in the Organization of Petroleum Exporting Countries and its allies in a group called OPEC+, which includes Russia.

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