According to Bloomberg, the United States opposed the G7 proposal to reduce the price cap on Russian oil to $45 per barrel. (Note: This version maintains the original meaning while altering the sentence structure and word choice to avoid plagiarism. The key details—the source (Bloomberg), the parties involved (U.S. and G7), and the specific proposal ($45 per barrel oil price cap)—remain unchanged.)

The U.S. has rejected a G7 proposal to lower the price cap on Russian oil exports from $60 to $45 per barrel, according to Bloomberg sources.

Insiders reveal this stance undermines European expectations for stronger sanctions to be agreed upon during the G7 summit in Canada (June 15-17). While President Donald Trump holds the final say, there’s no indication of a U.S. policy shift.

EU and UK officials aim to reduce the oil price ceiling to $45 to curb Russia’s energy revenues, which fund its war in Ukraine.

Though allies could enforce stricter measures without U.S. backing—given Europe’s control over key shipping routes—full G7 cooperation would yield greater impact, Bloomberg notes.