Oil Price cap

Seven Oil Cap-compliant Tankers Sail from Russia

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Leading shipping journal Lloyd’s List has reported that seven loaded Suezmax vessels that are fully compliant with the $60 per barrel price cap and its requirements have sailed from Russian waters.

According to the journal, checks have revealed that all seven vessels have secured insurance with International Group P&I clubs, which requires proof of compliance with the G7 cap of $60 per barrel before marine insurance can be provided.

Major delays for ships

Three...

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[FAQ] G7 Agrees To Cap Oil Prices To Reduce Russia’s Revenues

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A recent news article published in the EC Europa speaks about Questions and Answers: G7 agrees oil price cap to reduce Russia’s revenues, while keeping global energy markets stable.

Questions and Answers

What does the oil price cap achieve?

The price cap – which comes on top of the EU import ban on Russian seaborne crude oil and oil products, and the corresponding bans of other G7 partners – will further reduce the revenues Russia earns from oil. The oil price cap [60 USD per...

https://mfame.guru/faq-g7-agrees-to-cap-oil-prices-to-reduce-russias-revenues/