As G7 leaders prepare to meet, most member states are ready to cut the Russian oil price cap to $45 even without U.S. backing.
Several G7 nations, including the EU, UK, and Canada, are prepared to unilaterally lower the $60-a-barrel price cap on Russian oil, regardless of whether U.S. President Donald Trump supports the move. Sources say these countries aim to reduce the cap to $45, arguing that the current level is outdated due to falling global oil prices and ineffective in curbing Moscow’s war funding.
The decision is expected to be a key point of debate at the upcoming June 15–17 G7 summit in Canada. While the U.S. remains undecided, some American lawmakers like Senator Lindsey Graham support a tougher stance. With Britain’s grip on global shipping insurance and EU influence over compliant tanker fleets, European leaders believe they can act without full U.S. alignment. However, Washington's role remains critical in managing dollar-based oil transactions. Russia’s shrinking oil revenues and profit decline at state-run Rosneft signal that the pressure from existing sanctions is mounting.
China’s commerce chief is urging the U.S. to act responsibly and avoid reigniting a tariff war, saying forced decoupling is unrealistic and trade ti...
Russian President Vladimir Putin has accused European countries of taking grain originally meant for impoverished nations under the 2022 Black Sea Gra...
The UK and Germany have signed a landmark treaty that includes plans for a direct rail connection between London and Berlin, aimed at boosting travel ...
A tenth resident has died following the deadly fire that tore through the Gabriel House assisted-living facility in Fall River, Massachusetts, officia...
At least 63 people have died and 290 were injured in Pakistan’s Punjab province within 24 hours of heavy monsoon rains, authorities said Thursday....
Russian President Vladimir Putin has accused European countries of taking grain originally meant for impoverished nations under the 2022 Black Sea Grain Initiative.
The UK and Germany have signed a landmark treaty that includes plans for a direct rail connection between London and Berlin, aimed at boosting travel and trade between the two countries.
A tenth resident has died following the deadly fire that tore through the Gabriel House assisted-living facility in Fall River, Massachusetts, officials confirmed Thursday.
At least 63 people have died and 290 were injured in Pakistan’s Punjab province within 24 hours of heavy monsoon rains, authorities said Thursday.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
Germany's export slump since 2021 is largely driven by deep-rooted competitiveness issues, the Bundesbank warned in its latest report, calling for urgent structural reforms.
Israeli researchers have unveiled an artificial intelligence tool that can determine a person’s true biological age from tiny DNA samples with remarkable precision.
Hollywood star Sydney Sweeney is reportedly the top contender to become the next Bond girl, as director Denis Villeneuve and Amazon look to modernise the James Bond franchise.
China’s commerce chief is urging the U.S. to act responsibly and avoid reigniting a tariff war, saying forced decoupling is unrealistic and trade ties must return to “healthy and sustainable” growth.
Russian President Vladimir Putin has accused European countries of taking grain originally meant for impoverished nations under the 2022 Black Sea Grain Initiative.
The UK and Germany have signed a landmark treaty that includes plans for a direct rail connection between London and Berlin, aimed at boosting travel and trade between the two countries.
A tenth resident has died following the deadly fire that tore through the Gabriel House assisted-living facility in Fall River, Massachusetts, officials confirmed Thursday.
At least 63 people have died and 290 were injured in Pakistan’s Punjab province within 24 hours of heavy monsoon rains, authorities said Thursday.
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