Ukraine: Time To Review Russian Oil Price Cap ...Middle East

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Ukraine: Time To Review Russian Oil Price Cap
source : OILPRICE ( Middle East ) () 18
It’s time to review the price cap on Russian crude oil, Ukraine’s foreign minister said on Thursday because the current market price of Urals is below the cap. A coalition made up of the G7 countries as well as Australia and the EU set last year a price cap on all seaborne Russian crude oil. The goal was to reduce Russia’s oil revenue that it could funnel into its war with Ukraine. Russia, however, said it would not play along with the measure and said it would refuse to sell oil to anyone attempting to enforce the price cap.…

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