Report: G7 fin ministers to unveil plan on Russian oil price cap

WASHINGTON, Sep 1 (PRIME) -- The finance ministers of the G7 states will present a plan on Friday to set a price cap on Russian oil, the Wall Street Journal reported on Thursday citing sources familiar with the matter.

“Finance ministers from the Group of Seven wealthy democracies are set to meet virtually on Friday, when they are expected to release an endorsement of the price-cap plan and commit to finalizing its implementation,” the newspaper reported.

On Wednesday, White House Press Secretary Karine Jean-Pierre said that the U.S. expects that setting a price cap on Russian oil will not only limit Moscow's revenues from energy exports, but also help lower prices on the global market.

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