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Stories Tagged as

Oil price cap

The Saudis are buying up Russian diesel — and selling more of the stuff they produce themselves

by Lily Jamali
May 30, 2023
The kingdom's actions are not a violation of sanctions.
Saudi Arabia is now buying roughly180,000 barrels of Russian diesel every day. Above, a refinery in Moscow.
Natalia Kolesnikova/AFP via Getty Images
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Sanctions designed to keep the price of Russian oil low seem to be working

by Sabri Ben-Achour
Jan 10, 2023
Whether they $60 a barrel price cap will continue to work in the long run is an open question though.
Russian oil is trading at prices well below those of oil from other countries after the implementation of oil price caps. Above, a refinery on the outskirts of Moscow.
Natalia Kolesnikova/AFP via Getty Images
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What does the price cap on Russian oil mean for global oil prices?

by Lily Jamali
Dec 7, 2022
The $60 price cap was designed to limit Russian oil revenues, while keeping the oil itself flowing to avoid a global price shock.
After debating how high to set a price cap on Russian oil, Western allies agreed to $60 per barrel. Above, an oil refinery in Moscow.
Natalia Kolesnikova/AFP via Getty Images
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A cap on Russian oil could be coming — if Western allies can agree on a price

by Lily Jamali
Nov 23, 2022
An EU diplomat is considering a $65 to $70 per barrel price cap on oil from Russia. But some nations want a more punitive target.
A Gazprom refinery on the outskirts of Moscow.
Natalia Kolesnikova/AFP via Getty Images
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The U.S. tries to build support for a price cap on Russian oil

by Lily Jamali
Jul 13, 2022
Experts say buy-in from China and India would be key to making the policy work.
The U.S. and its allies hope to create a "buyers cartel" aimed at reducing Russia's oil revenue in response to its attack on Ukraine.
Frederic J. Brown/AFP via Getty Images
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U.S. pushes for Russian oil price ceiling. Feasible?

by Matt Levin
Jun 28, 2022
Advanced nations will evaluate the idea in an effort to limit Russia's energy revenue. But Russia could retaliate.
An oil refinery on the outskirts of Moscow. Although the advanced nations are considering a price cap on Russian oil, Russia could retaliate by shutting off the flow of natural gas to Europe.
Natalia Kolesnikova/AFP via Getty Images
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