Top EU official cautious about G7 oil price-capping scheme

European Union Council President Charles Michel has queried the mechanism for an upper price cap on Russian oil exports proposed by the United States and being discussed at the G7 summit.
"We want to go more into the details. We want to fine tune," Michel says. The aim of discussions on the proposed cap is to make sure that all 27 EU member states will support it, he says.
Michel says the immediate implications of any possible side-effects need to be clarified to ensure that the mechanism impacts Russia and does not simply make the situation faced by the EU more problematic.
Michel expressed caution on whether the G7 could reach agreement on the issue.