G7 is contemplating a full ban on dealing with Russian crude – report

Bloomberg experiences that the G7 is contemplating hardening the value cap on Russian oil and is even contemplating changing the mechanism with a full ban on dealing with Russian crude.

The market might get enthusiastic about this however I do not suppose it is an actual menace.

“Choices into consideration vary from primarily changing the
mechanism with a full ban on dealing with Russian crude to reducing the
worth threshold from the present $60 to about $40, the individuals stated. The
individuals, who spoke on situation of anonymity to debate delicate talks,
cautioned that discussions had been ongoing and there’s no consensus but on a
subsequent step.”

Thus far the value cap has been a near-total failure with Russian oil flowing freely.

This text was written by Adam Button at www.ubaidahsan.com.



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