The efficiency of such a measure as well as the nations that will agree to set a cap on Russian oil prices have not yet been determined, according to the International Monetary Fund.
A report prepared by international cash indicated that the Group of 7 countries decided to provide special services for maritime transport, such as insurance services, only for countries that comply with the price ceiling decision.
The move to establish a cap on Russian oil prices, according to the research, caused a discernible rift in the energy market.
It is interesting to recall that the US Treasury Department had suggested capping the price of Russian oil at $60 per barrel.
In response, Russian President Vladimir Putin stated that his country will not suffer the costs of this choice, should it be made, and that it will not supply oil to those who will set its price.
The Australian newspaper The Conversation indicated that the policy of imposing sanctions against Russia had a reverse impact on Russia’s revenues, which recorded record increases after the high prices of energy holders globally against the background of these sanctions.
Author: RT.
The IMF has questions about how well establishing a cap on Russian oil prices will work.
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