TELFS-BUCHEN, Austria—Group of seven leaders are expected to agree to start work on one Mechanism to limit the purchase price Of Russian oil, the US announced a new round of military aid to Ukraine and sanctions against Moscow, Biden administration officials said on Monday.
The official said the leaders would direct relevant ministers in their countries to work out the details of the Russian oil cap, which would form a cartel of buyers from Western countries and their allies. There is no timeline yet on when the details will be worked out. The issue was discussed by G-7 leaders on the first day of their meeting in the Bavarian Alps on Sunday.