G7 price cap on Russian oil: All you need to know

BRUSSELS: The Group of Seven nations, Australia and the 27 European Union countries imposed on December 5 a price cap on Russian crude oil transported by ships, aiming to reduce Moscow’s ability to finance its war in Ukraine and preserve stability on the global oil market. The price cap comes on top of an EU […]

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Russia Rejects USD 60-a-barrel Cap on Its Oil, Warns of Cutoffs

Russian authorities rejected a price cap on the country’s oil set by Ukraine’s Western supporters and threatened Saturday to stop supplying the nations that endorsed it. Australia, Britain, Canada, Japan, the United States and the 27-nation European Union agreed Friday to cap what they would pay for Russian oil at $60-per-barrel. The limit is set […]

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EU reaches deal for $60 per barrel price cap on Russian oil

BRUSSELS: The European Union reached a deal Friday for a $60-per-barrel price cap on Russian oila key step as Western sanctions aim to reorder the global oil market to prevent price spikes and starve President Vladimir Putin of funding for his war in Ukraine. After a last-minute flurry of negotiations, the EU presidency, held by […]

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Deadline Extended For 30% Cap On UPI Transactions By Payments Firms

UPI facilitates peer-to-peer online money transfers through mobile apps.(File) Mumbai: India has decided to extend the deadline on capping the share of digital payment transactions by about two years to Dec 31, 2024, the National Payments Corporation of India (NPCI) said today. The NPCI had said in late 2020 that payment firms will not be allowed […]

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EU tentatively agrees $60 price cap on Russian seaborne oil

BRUSSELS: European Union governments tentatively agreed on Thursday on a $60 a barrel price cap on Russian seaborne oil – an idea of the Group of Seven (G7) nations – with an adjustment mechanism to keep the cap at 5% below the market price, according to diplomats and a document seen by Reuters. The agreement […]

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G7’s Oil Price Cap Sanctions To Have Little Impact On Russian Revenue Immediately

Proposed G7 oil price cap to have little immediate impact on Russian revenue LONDON/NEW DELHI/MOSCOW: The Group of Seven (G7) nations’ proposed price cap of $65-$70 a barrel on Russian oil would have little immediate impact on Moscow’s revenues, as it is broadly in line with what Asian buyers are already paying, five industry sources […]

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G7 Price Cap on Russian Oil: What is the Mechanism, How Will It Affect Moscow’s Revenue

India stood to gain from the G7-imposed price cap mechanism on Russian oil, said US treasury secretary Janet Yellen and hoped the country will take advantage of it. She said as long as India did not avail of western insurance, finance and maritime services bound by this cap, the country could buy as much oil […]

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Swadeshi Jagran Manch Calls For Cap On Entry Fees For Online Games Amid Regulatory Push

NEW DELHI: An influential Indian nationalist group will push for limits on entry fees for players of paid online games, potentially turning up the heat on a multi-billion-dollar industry that is preparing to lobby against tougher rules. The growing popularity of real-money games, driven by backing from top figures in cricket, a subcontinental craze, has […]

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Mixed Airfare Trends After Cap Removal; Air Passenger Traffic On Rise: Report

The move also came against the backdrop of gradual recovery in domestic air passenger traffic. Mumbai/ New Delhi: After the removal of airfare caps, there seems to be a mixed trend with lower ticket prices for routes having relatively lesser passenger loads, according to travel industry experts. More than two years after being put in […]

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Mixed airfare trends after cap removal; air passenger traffic on rise: Experts

MUMBAI/ NEW DELHI: After the removal of airfare caps, there seems to be a mixed trend with lower ticket prices for routes having relatively lesser passenger loads, according to travel industry experts. More than two years after being put in place amid the coronavirus pandemic, the fare caps were removed with effect from August 31. […]

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