Explainer: The G7 Price Cap on Russian Oil Products

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The European Union embargo and corresponding G7 price cap on Russian oil products is slated to take effect on Feb. 5, extending efforts by the West to limit Moscow’s ability to profit from its energy sales. Early results from the G7 cap on Russian oil revenues have been difficult to interpret. Russian oil continues to flow and few cargoes trade hands under the parameters of the price cap. But prevailing prices for Russian crude remain steeply discounted relative to global benchmarks. Energy Intelligence considers key questions of the impending cap on Russian product prices.

Sanctions, Oil Products, Trade
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