Bloomberg: G-7 set to postpone revising Russian oil price cap

Group of Seven nations are unlikely to revise a price cap on Russian oil this week, despite initial evidence that crude is selling well below the current $60 threshold, Report informs referring to Bloomberg.

European Union member states were informed over the weekend by the bloc’s executive branch that there is little interest among the G-7 - in charge of setting and changing the price cap - to modify price levels at this stage, according to people familiar with the matter.

Talks between the European Commission and the G-7 will likely continue beyond a summit of EU leaders taking place in Brussels this week, two of the people added.