06 Sep, 23

G7 Price Cap Limits Russian Oil Revenue, But Moscow Has No Shortage Of Buyers

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Price caps on Russian oil and gas have managed to drive down oil revenues and keep prices in check for consumers, experts have suggested, even though the country still has no shortage of buyers for its supplies. Callum Macpherson, head of commodities at Investec, told City A.M. the sanctions and cap mechanism unveiled by the G7 this year has achieved their aim of limiting oil revenues from Russia, without unduly inflating oil prices amid OPEC supply cuts. He said: “The sanctions have not led to a significant curtailment in Russian…

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