WASHINGTON — The top economic officials of the world’s leading advanced economies agreed on Friday to forge ahead with a plan to form an international buyers’ cartel to cap the price of Russian oil, accelerating an ambitious effort to avoid a price shock while draining President Vladimir V. Putin’s war chest.Finance ministers from the Group of 7 nations said after a virtual meeting that they were finalizing details of a price cap, which they had already agreed to explore at a formal meeting earlier this year. The plan needs to be put in place by early December, ahead of a European Union embargo on Russian oil imports and a ban on the insurance and financing of Russian oil shipments. The Biden administration has been fearful that these moves could send energy prices skyrocketing and potentiall …
