G7 leaders agree to study Russian energy price caps

Russian oil export revenues climbed in May even though sanctions reduced its export volumes.

The European Union will explore with international partners ways to curb energy prices, including the feasibility of introducing temporary import price caps, a section of the final G7 communique seen by Reuters said. The officials said this meant both oil and gas.

Russian oil export revenues climbed in May even though sanctions reduced its export volumes, the International Energy Agency said in its June monthly report.

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