G7, E.U. Price Cap On Russian Oil Enters Force
December 05 2022
The G7 countries, European Union and Australia have implemented a price cap on Russian seaborne oil exports, reports Reuters.
On Dec. 2, the cap, which specifies that seaborne crude oil transported to third-party countries using G7 and E.U. tankers, insurance companies and credit institutions could only be sold at a price of US$60 or less per barrel, entered force.
Moscow rejected the measure, saying it would not abide by it even if it means it has to cut production.
Poland and...
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