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Policy

G7 Price Cap Lurches Into Effect

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The G7 began its efforts to cap the price of Russian crude. upending global shipping routes and accelerating a reordering of oil markets that has been underway since Russia’s invasion of Ukraine. EU member states remain ambivalent about a cap that does not significantly cut Russia’s revenues. Meantime, Russia’s growing dark fleet will test the reach of the sanctions, which are already causing headaches for companies and countries that facilitate the physical flow of oil around the word.

Topics:
Policy and Regulation, Sanctions, Oil Tankers, Crude Oil, Oil Prices, Opec-Plus Supply , Oil Trade
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