A Price Cap On Russian15 Sep 2022 16:34
The G7 appears to be intent on implementing its price cap plan designed to reduce oil prices, reduce Russian revenues, and maintain a steady supply of Russian oil.
In reality, there is a strong chance that the price cap would send oil prices soaring, with the risk that Russia retaliates by halting energy exports altogether.
Russian oil will have to sail on non-Western tankers if it is to avoid the price cap, and there simply aren’t enough tankers available.