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Russia-Ukraine war: G7 leaders mull untried plan to manipulate oil prices

The dueling escalation underscored how the war in Ukraine has consumed global politics and the world economy

G7
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Western sanctions intended to create pain for Russia have sent food and energy prices skyrocketing across the world, even as Moscow’s war machine has shown little sign of slowing down.

NYT
Leaders of the Group of 7 nations said they would stop buying gold from Moscow and discussed a new American proposal to undercut its oil revenues, even as Russian forces rained missiles on Kyiv for the first time in weeks. 

The dueling escalation underscored how the war in Ukraine has consumed global politics and the world economy.

President Biden and the British government said members of the Group of 7 — Canada, France, Germany, Italy, Japan, Britain and the United States — would move on Tuesday to ban imports of Russian gold. Representatives for the assembled countries were also negotiating toward an

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First Published: Jun 28 2022 | 1:08 AM IST

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