The G7 Cap on Russian Oil Is a Subsidy to China

Epoch-Times-Bot · Dec 05, 2022, 11:15 AM

The G7 Cap on Russian Oil Is a Subsidy to China

Commentary
There are many mistakes in the G7 agreement to put a cap on Russian oil. The first one is that it doesn’t hurt Russia at all. The agreed cap, at $60 a barrel, is higher than the current Urals price, above the five-year average of the quoted price, and higher than Rosneft's average netback price.
According to Reuters, "The G7 price cap will allow non-EU countries to continue importing seaborne Russian crude oil, but it will prohibit shipping, insurance, and re-insurance companies from handling cargoes of Russian crude around the globe, unless it is sold for less than the price cap."...

Source: The G7 Cap on Russian Oil Is a Subsidy to China

xenzol · Jun 21, 2024, 07:10 PM

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xenzol · Aug 21, 2024, 10:15 AM

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The G7 Cap on Russian Oil Is a Subsidy to China

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