G7 oil price cap on Russia crumbling? | WION Fineprint
The Group of Seven Nations aimed to
criple Russia’s oil Revenue by imposing
a price cap of $60 per barrel however
the effectiveness of this strategy is
under growing scrutiny 80% of Russian
oil tankers have reportedly left the
coverage of insurance companies aligned
with the G7 this creates a shadow Fleet
operating outside the price cups reach
the price of Russia’s Flagship Euros
crude oil has also consistently exceeded
$60 borrow in recent months this raises
questions about whether the C is
actually limiting Russia’s income a key
insurance provider for the global
shipping industry has expressed concerns
about the G7 price cups
enforceability their data shows a
dramatic decrease in coverage for
Russian oil shipments in April 2024 only
16% of Russian oil caros were insured by
companies adhering to the G7 cup the
group suggests broader International
collaboration to effectively limits
Russia’s oil Revenue the submission also
notes that the success of the oil price
C hinges on Corporation from major
buyers like China and
India for all the latest news down
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The Group of Seven nations aimed to cripple Russia’s oil revenue by imposing a price cap of $60 per barrel. However, the effectiveness of this strategy is under growing scrutiny.
#russia #g7 #oilprice
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7 Comments
Both US and EU are abusing the loophole that refined Russian oil and petrochemicals good made from other countries is not Russian anymore and buy it thereby bypassing their own sanctions 😂. Their tax slave Andies are the biggest fool in world buying into the nonsense and paying more for their living expenses.
Russia is a sovereignty country it doesn't take orders from G7
😂 lol .
Why should Russia do anything that America demands? We act like aholes to the world
Middle finger to America
Why do Wion say this now.. it's 2 years old news
G7 a big joke 😂😂