A year into Russian oil price cap, report casts doubt on its efficacy

By Breanne Deppisch

Published December 5, 2023 5:34pm ET

A year into Russian oil price cap, report casts doubt on its efficacy — One year after the G7-backed Russian oil price cap took force, a new report noted it has been largely unsuccessful in its goal of slashing Moscow’s fossil fuel revenue, citing insufficient monitoring and enforcement as some of the primary reasons Russia has continued to rake in billions in profits. The oil price cap has cut […]

One year after the G7-backed Russian oil price cap took force, a new report noted it has been largely unsuccessful in its goal of slashing Moscow’s fossil fuel revenue, citing insufficient monitoring and enforcement as some of the primary reasons Russia has continued to rake in billions in profits.