Russia’s flagship crude oil surpasses G-7 price cap for first time
A barrel of Russia’s Urals crude was traded above USD 60 on Wednesday, thereby breaching a price cap imposed by the West to prevent Russia from financing its war machine.
By Alaric Nightingale and Lucia Kassai, bloomberg news
Russia’s flagship Urals crude oil breached a price cap set by the Group of Seven, a blow to western sanctions efforts and arguably an economic win for Moscow.
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