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G-7 to Tell Ministers to Explore Price Cap on Russian Gas (2)

June 27, 2022, 8:03 PM

Group of Seven leaders are set to instruct ministers to explore implementing a price cap on Russian gas, according to people familiar with the discussions.

The mandate is expected to be announced as the three-day summit ends Tuesday. It comes as part of broader discussions on how to limit the profit Russia makes on its energy exports. The leaders are also expected to mention a mechanism to cap prices on Russian oil in the final communique.

Capping Russian gas imports would be important for European Union countries such as Italy that rely heavily on Russian supplies and have been pushing ...