Critics including Ukraine say cap of $60 per barrel is still above market value and will not hurt Russia’s war coffers
G7 countries and Australia have agreed to cap the price of Russian seaborne oil, with the aim of reducing Moscow’s income and limiting its ability to finance its war in Ukraine.
But critics, including Ukraine, say the cap of $60 a barrel is still higher than the current market price for Russian crude oil and is unlikely to affect the Kremlin’s war coffers.
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