oil price cap

President Vladimir Putin says Russia could cut oil production and refuse to sell oil to any country that imposes the West's price cap on Russian oil. "As for our reaction, I have already said that we simply will not sell to those…

The price cap on Russian seaborne oil agreed upon by the Group of Seven (G7), the European Union (EU) and Australia has came into force . The price cap of $60 per barrel is aimed at limiting Moscow's ability to finance its war in…