Insider Paper: “The United States on Friday welcomed an agreement by the European Union to join the G7 powers in setting a $60 a barrel price cap on Russian oil exports, saying this will slow the Kremlin’s ‘war machine.’

‘It’s welcome news that they’re coming together towards a price cap,’ White House National Security Council spokesman John Kirby told reporters.

‘We still believe that a price cap will help limit Mr (Vladimir) Putin’s ability to profiteer off the oil market so that he can continue to fund a war machine that continues to kill innocent Ukrainians.,”