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Discussions are expected to continue Thursday, with European Union countries split over the price-cap level
European diplomats clashed over the price to cap Russian global oil sales on Wednesday as the bloc failed to reach agreement on a Group of Seven nations mechanism intended to crimp Russian oil revenues.
Diplomats involved in and briefed on discussions said they expected the 27-nation bloc to sign off on the price cap eventually as they race to put the system in place by Dec. 5, when both the cap and a European Union oil embargo would enter force. Discussions are expected to continue on Thursday.