Energy

How would a G-7 price cap on Russian oil work?

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The G7 has floated the idea of an oil price cap, but experts are doubtful about how effective this would be.

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The world’s seven-largest industrialized economies have floated the idea of a price cap on Russian oil to further squeeze the Kremlin’s ability to fund its onslaught in Ukraine and try to protect consumers amid surging energy prices.

The G-7’s pursuit of a price ceiling on Russian oil is not without its challenges, however, with energy analysts highly skeptical about the integrity of the proposal.

For its part, the Kremlin has warned any attempt to impose a price cap on Russian oil will cause more harm than good.

How the idea came…



Source cnbc.com

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