- Yellen praises months of “hard work” to reach an agreement
- Price cap hits Russia’s main source of income – Yellen
- Poland supports the price cap after requesting additional conditions
- The G7 price cap aims to reduce Russia’s oil revenues
WASHINGTON/BRUSSELS, Dec. 2 (Reuters) – The Group of Seven (G7) nations and Australia announced Friday that they have agreed on a price cap of $60 a barrel for Russian sea crude after European Union members overcame opposition from Poland and a political agreement had been reached earlier in the day.