The country’s crude export revenues more than doubled last month despite sanctions The price cap on Russian oil introduced by the G7 and EU late last year in an effort to curtail Moscow’s energy revenues has been growing increasingly ineffective, the Wall Street Journal reported on Sunday. The EU and G7 countries agreed on a $60 per-barrel price ceiling on Russian seaborne oil exports in December 2022, and this past February placed similar restrictions on exports of Russian petroleum products. The mechanism works by allowing Western companies to transport, trade, or insure Russian oil only if it is sold at or belo
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