REPORT: Russia-Ukraine War: G7 and Allies Fail to Agree on Price Cap for Russian Oil

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Talks to set a cap on the price of Russian oil long in the works by the United States and pro-Ukraine allies faced a setback Wednesday as a meeting of senior European Union diplomats over the exact price and other details ended without agreement.

The plan is close to being completed and must be in place before an E.U. embargo on Russian oil imports kicks in on Dec. 5.

E.U. diplomats from all 27 member states met into the evening Wednesday to iron out the final details, including, crucially, at what price the cap should be set.

The diplomats’ views on where the price should be set “were too far apart,” the report says.

There was no immediate indication on when the group would negotiate again.

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