The price cap on Russian oil at $60 per barrel does very little to immediately cut revenues for the Kremlin, as Western policymakers, especially those in the United States, focus more on keeping Russia’s crude flowing and preventing a plunge in global oil supply and another price spike, analysts say. The price cap, spearheaded by the U.S. through the G7, officially has a dual purpose - to reduce the revenues from oil available to Putin to continue the war in Ukraine, and keep oil flowing - at a lower price - to avoid a surge…
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