European Union member states are racing to clinch a political agreement within weeks that would impose a price cap on Russian oil. The push has gained steam since President Vladimir Putin announced a “partial mobilization” of troops in an escalation of Russia’s war in Ukraine and will likely feature as part of a new a package of sanctions to be proposed by the European Commission, according to people familiar with the matter. A cap would align the EU with a US effort to keep the cost of crude from soaring and to hit Moscow’s revenue. But despite the new effort from the commission, the EU’s executive arm, and some ... (full story)