348 Officials in the US, EU and elsewhere are trying to formulate a new kind of energy sanction that caps the price of Russian oil in a bid to keep markets supplied while denying Moscow revenues.Major questions surround whether a price cap — which would seek to compel buyers to pay below market value for Russian oil in order to access insurance — would be workable or enforceable, and whether major buyers China or India would join the scheme.The initiative could also backfire — spiking crude prices while keeping revenues flowing to Moscow. Save for later Print Download Share LinkedIn Twitter The Issue
