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Ukraine Says Russia Oil Cap Is Too Weak

by DTB
February 1, 2023
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https://www.wsj.com/articles/ukraine-says-oil-price-cap-wont-dent-russias-ability-to-fund-war-11670152525

Zelensky says that capping Russian oil sales at $60 a barrel won’t undermine the Kremlin’s military machine

Ukrainian soldiers on the front line in eastern Ukraine.

Ukrainian soldiers on the front line in eastern Ukraine. yevhen titov/Agence France-Presse/Getty Images

KYIV, Ukraine—Ukraine denounced a price cap on Russian oil agreed to by the U.S. and its allies as a weak measure that would fail to deprive Russia’s military machine of funds, as Moscow said it could stop supplying consumers in response.

The Group of Seven agreed Friday to cap the price of Russian oil at $60 a barrel, moving forward with an unprecedented sanction against one of the world’s largest producers following its invasion of Ukraine.

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