EU, G7 and Australia have agreed the cap
Russia says it will continue to find buyers for oil, after being hit with a $60 a barrel, price cap.
The EU, G7 countries and Australia have agreed the cap to limit Moscow’s income and its ability to finance the ongoing war in Ukraine.
Vladimir Putin and Kremlin officials have said that they won’t sell oil to countries that implement it.
Meanwhile The UK's military says Russia's likely to surround the eastern Ukrainian city of Bakhmut, with tactical advances to the north and south - in what's being called a "symbolic" move for Moscow.
The British Ministry of Defence says it would have limited operational value, but could allow Russia to threaten other cities in the Donetsk Oblast region.
It says the capture of Bakhmut has become a "political objective" for the Kremlin.
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