How Will the Price Cap on Russian Oil Work?

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Finance ministers from the G7 group of nations agreed last week to push a controversial plan to put a price cap on Russian oil, although some details are still being worked out at the national level. The cap is meant to reduce Moscow's oil revenues without limiting the flow of Russian oil to the market — a goal that has been met with considerable skepticism in the market. If that bet doesn’t pay off and Russia retaliates with oil supply cuts as it has done with gas, prices could spike. Below, Energy Intelligence addresses key questions related to sanctions on Russian oil.

Sanctions, Oil Supply, Security Risk , Policy and Regulation, Oil Prices, Ukraine Crisis
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