G7 contemplates energy cap to ward off costs

Nations continue coordination

clock • 1 min read
Third day of meetings at Schloss Elmau.

Third day of meetings at Schloss Elmau.

Leaders of the world’s wealthiest countries meet for the third day in Bavaria, amid debates around the possible introduction of a temporary price cap on Russian energy imports to combat the cost crisis and prevent a global recession.

Nations are exploring further sanctions to halt spiralling costs, and reduce Russian revenues as the US continues to drive a policy that would place a cap on the price of Russian oil. Recessionary fears accelerate as the four-month war in Ukraine continues to push up the price of oil and gas, and food. The move comes as nation leaders condemn the "indiscriminate attacks on civilians and civilian infrastructure" that "have caused immeasurable human suffering and loss of life". Yesterday Russia launched a missile strike on a shopping mall in the Ukrainian city of Kremenchuk. Leade...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Commodities

European-focused investment grade and high yield credit have highest inflows since April 2020.

Fixed income dominates ETF flows in July

Accounted for $32.5bn

clock 08 August 2022 • 2 min read
David Coombs, head of multi-asset at Rathbones Unit Trust Management

Rathbones' Coombs: Multi-asset funds 'called it right' but unable to combat hardship

Rathbone Multi-Asset Strategic Growth

clock 05 August 2022 • 3 min read
Lee Robinson, founder and CIO, Altana Wealth

Carbon trading: the big long

Time for a different hedge

Lee Robinson
clock 05 August 2022 • 4 min read