Questions Swirl Around Russian Price Cap Bid

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  • 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.

The Issue

Policy and Regulation, Sanctions, Oil Supply, Ukraine Crisis
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