The G7’s oil price cap may have went into effect on Monday, but Russia’s response is to consider putting a “price floor” under its crude oil exports, two officials familiar with Moscow’s plan told Bloomberg on Tuesday. Russia had already said it would not ship crude oil to anyone playing along with the G7 oil price cap, and that it could even possibly respond by cutting oil production rather than ship its oil at too severe a discount, as dictated by the price cap. The G7 price cap landed on $60 per barrel—above…
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