A U.S. push for a price cap on Russian oil is set to become a major discussion point at the G7 summit in Elmau, Germany, according to officials, but there remains skepticism about the feasibility of the idea. Western countries are becoming increasingly frustrated that their embargoes on Russian oil have had the counterproductive effect of driving up the global petrol price, meaning that Moscow, which continues to sell oil to countries such as India and China, ends up earning more money for its war chest. U.S. Treasury Secretary Janet Yellen has proposed to tackle this issue with a price cap: The idea is that the EU ... (full story)