The G7 Is Still Pushing Its Nutty Russia Oil Price Cap Idea

The G7 Is Still Pushing Its Nutty Russia Oil Price Cap Idea 1

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Even observers who are generally very well informed but not strongly interested in finance are ridiculing the barmy idea of imposing a price cap on Russian oil sales. This move is perceived to be necessary because the other Western-devised sanctions against Russian energy sales, of first trying to embargo them, then realizing that that would amount to shooting too many economies in the head, then having what amounted to a partial embargo drive oil prices way up, made Russia fat and happy on lower petroleum sales.

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