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A price cap on Russian crude oil agreed by the Group of Seven nations and Australia takes effect in the latest effort to squeeze Moscow's key source of revenue for its ongoing war in Ukraine.

United statesUnited kingdomAlexander novakVladimir putinEuropean unionPrice cap coalitionUs treasury departmentRussian deputy prime minister alexander novakRussian president vladimir putinRussia oil7 oilG 7 oilOil priceSoil russiaIl g7