Limit of $100 a barrel said to be ineffective with the price of crude having crashed in response to Trump’s trade war
The UK and its G7 allies are considering tightening the “meaningless” cap on Russian oil export prices after Donald Trump’s trade war caused global oil markets to crash.
UK Treasury officials are understood to be looking at plans to lower the $60 (£46) a barrel cap Russianexports after the oil market plunged this week to $59.77 a barrel for the first time in more than four years.
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