Title: G7 Postpones Review of Russian Oil Price Cap

European Union officials excluded today, Monday, the possibility that the Group of Seven will review the cap on Russian oil prices this week. The G7 was scheduled to review the price cap, set in December, in mid-March, but officials said that the European Commission informed EU ambassadors over the weekend that there is no desire among G7 countries for an imminent review. The cap on maritime crude oil exports from Russia is set at $60 per barrel, aiming to keep the level below the market price, thus limiting the revenue Moscow can generate from oil sales while maintaining the flow to avoid a global supply shock.