WorldPrice Cap On Russian Oil Risks Crisis It’s Meant To Prevent
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Price Cap On Russian Oil Risks Crisis It’s Meant To Prevent
The US has cooked up what appears to be a clever solution to mitigate fallout of sanctions on Russian oil. That, however, could lead to a dangerous showdown with Moscow.
Ukrainian President Volodymyr Zelenskiy gives a speech via video link to G-7 leaders at the G-7 summit in Germany on June 27. (Photo: Christian Bruna/Getty Images)
(Bloomberg Businessweek) -- Something odd happened this spring as European governments prepped their sixth package of sanctions against Russia. Washington, which has spearheaded the international effort to ratchet up the pressure on Moscow as punishment for the invasion of Ukraine, looked at one portion of the plan and grew alarmed about the potential fallout. In the months since, US Treasury officials have been working frantically t...