Western price cap disrupting global oil markets – economist ...News

The embargo on Russian crude may lead to unexpected results for most industrialized nations, an energy economist warns The latest EU sanctions on Russian oil exports will fail to strip the country of its revenues, but are already causing global oil supply disruptions, a senior energy economist at CER-Centro Europa Ricerche told Sputnik news agency on Wednesday. The EU embargo took effect on Monday and was accompanied by a $60 price cap on Russian crude, supported by G7 countries and Australia. Any transactions over this limit are now barred from receiving brokerage, shipping, or insurance services. Demostenes Flor

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