Business/external payments

G-7 Nears Agreement on Exploring New Sanction Capping Russian Oil Price

G-7 Nears Agreement on Exploring New Sanction Capping Russian Oil Price

The Group of Seven club of wealthy democracies is inching toward a deal to expand its sanctions against Russia by seeking a mechanism to cap the purchase price of Russian oil, officials said, but details are still being worked out. The move, which is being discussed at the three-day G-7 summit in the Bavarian Alps …

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Russia’s Welcome at Brics Summit Shows Disconnect With West

Russia’s Welcome at Brics Summit Shows Disconnect With West

Russian President Vladimir Putin was welcomed Thursday in a virtual summit with the presidents of China, India, Brazil and South Africa in a stark reminder of the limits of US-led efforts to isolate Moscow. The summit of the Brics nation, organized virtually by the Chinese president Xi JinpingIt gave Putin his highest-profile international stage in …

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Germany Looks at Potential Rationing of Natural Gas After Russia Cuts Supply

Germany Looks at Potential Rationing of Natural Gas After Russia Cuts Supply

BERLIN—The German government moved closer to rationing natural gas on Thursday after Russia cut off deliveries to the country last week in an escalation of the economic war triggered by Moscow’s invasion of Ukraine. Berlin activated the second of its three-step plan to tackle gas shortages after Kremlin-controlled energy giant Gazprom, the country’s biggest gas …

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