SCHLOSS ELMAU, Germany: The Group of Seven rich democracies will commit on Tuesday to a new package of coordinated actions meant to raise pressure on Russia over its war in Ukraine, and will finalize plans for a price cap on Russian oil, a senior US official said on Monday.in decades and Ukrainian President Volodymyr Zelenskyy spoke to address G7 leaders meeting at an alpine resort in southern Germany.
G7 nations, which account for nearly half the world's economic output, are determined to crank up the pressure on Russia without stoking already soaring inflation that is particularly hurting the global south. The price cap could hit the Kremlin's war chest while actually lowering energy prices.
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