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The G7’s upcoming anti-Russia sanctions will target oil and petrochemicals in three phases, senior US Treasury official Ben Harris told the Argus European Crude Conference in Geneva on Tuesday. According to Harris, as cited by Reuters, the sanctions will tackle Russian crude oil, then focus on diesel, and finally lower value products such as naphtha.…

Consumer prices driven by food, drink and energy costs keep climbing across the single currency area Eurozone inflation surged to 7% in April in the first increase in the last five months, data released by the European Union’s statistics office Eurostat on Tuesday showed.