US Opposes European Push to Lower G-7’s Russia Oil Price Cap

The US isn’t budging from its opposition to a lower price cap on Russian oil sales, people familiar with the matter said, dampening European hopes that leaders meeting for a Group of Seven summit in Canada will agree to a cut.

A final decision rests with President Donald Trump and officials haven’t lost all hope, according to the people, who asked not to be identified discussing private deliberations. But so far there’s no movement from the position that the US spelled out at a meeting of G-7 finance ministers earlier this year, they said.