- The G7 leaders have been discussing a potential price cap on Russian oil since their conference started on Sunday, but no agreement has yet been reached
- The proposed measures would limit the harm to foreign economies by placing restrictions on the insurance and transportation of Russian oil exports
- The U.S., Canada, and the U.K have already banned imports of Russian oil while EU leaders have agreed to an oil embargo that will fully take effect by the end of 2022
- U.S. and Iran to resume talks to revive the 2015 nuclear deal in the "coming days", said EU’s chief diplomat Josep Borrell on Saturday (BBG)
- The EU will act as a mediator, while EU’s Josep Borrell expects talks “have to be finished” as they have been stalled since March
- Government officials from the EU and Iran stated that "two issues including one on sanctions remained to be resolved" as both parties remain committed to bringing Iranian crude onto the market