Skepticism grows over Russian oil price cap ...News

Russia Today - Economy
Skepticism grows over Russian oil price cap
source : Russia Today ( News ) () 70
Shell says the move could worsen the current energy crisis The CEO of energy major Shell, Ben van Beurden, has raised doubts about plans by the Group of Seven (G7) developed nations to impose a price cap on Russian oil to limit Moscow’s revenue from sales. “You can see all the flaws already,” he told Bloomberg on Wednesday, noting that the system would work only if there were broad participation beyond Europe and the US. Otherwise, “you will continue to just see what is currently happening, which is Russian crude will go to countries that are perfectly OK to still purchase Urals [Russia’s main crude export grade],

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