EU’s Michel: Oil services price cap must hit Russia, not G7 and partners

European Council President Charles Michel attends a news conference during a European Union leaders summit in Brussels, Belgium June 24, 2022. REUTERS/Johanna Geron

SCHLOSS ELMAU, Germany, June 26 (Reuters) – The Group of Seven nations will discuss a proposal to impose a price cap on services related to oil trading, European Council President Charles Michel said on Sunday, adding that any measures must minimise the impact on the G7 and its partners.

“If we go in that direction we will need the support of European Union members and we want to make sure the goal is to target Russia and not make our own lives more difficult,” he told a news conference at the G7 summit.

Reporting by Phil Blenkinsop, writing by Thomas Escritt; editing by Matthias Williams

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