Moscow’s export revenues are higher than what was expected by the West, according to new analysis The price limit imposed by the G7 and EU countries on Russian seaborne oil sales has essentially failed, Politico reported on Tuesday, citing new research. The mechanism was agreed last year and bans Western firms from providing insurance and other services to shipments of Russian crude unless the cargo is purchased at or below the $60-per-barrel price cap. Similar restrictions were introduced in February for exports of Russian petroleum products. The measures were intended to substantially reduce Moscow’s energy reve
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