G7 is considering a full ban on handling Russian crude - report ...Middle East

The market may get excited about this but I don't think it's a real threat.

"Options under consideration range from essentially replacing the mechanism with a full ban on handling Russian crude to lowering the price threshold from the current $60 to about $40, the people said. The people, who spoke on condition of anonymity to discuss sensitive talks, cautioned that discussions were ongoing and there’s no consensus yet on a next step."

So far the price cap has been a near-total failure with Russian oil flowing freely.

This article was written by Adam Button at www.forexlive.com.

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