The industry has voiced concerns around how a price cap will be implemented
Fears grow as Russian oil price cap looms
Worries over unintended consequences of interference in traded markets increase as December nears
The G7’s proposed price cap on Russian oil may have been endorsed by the EU in early October, but that does not mean that, as its 5 December proposed date gets closer, there are still no doubts about its efficacy and worries around potential unintended consequences. The idea envisages a comprehensive prohibition of services in trade and transport of Russian oil unless the oil and products were purchased at or below a price determined by a broad coalition of countries that intend to implement the cap, says Edward Bell, senior director for market economics at bank Emirates NBD. “Oil markets are watching closely for how a price cap on Russian oil will be implemented by G7 nations,” he warns. Wh
Also in this section
21 August 2025
The administration has once more reduced its short-term gas price forecasts, but the expectation remains the market will tighten over the coming year, on the back of
19 August 2025
ExxonMobil’s MOU with SOCAR, unveiled in Washington alongside the peace agreement with Armenia, highlights how the Karabakh net-zero zone is part of a wider strategic realignment
19 August 2025
OPEC and the IEA have very different views on where the oil market is headed, leaving analysts wondering which way to jump
15 August 2025
US secondary sanctions are forcing a rapid reassessment of crude buying patterns in Asia, and the implications could reshape pricing, freight and supply balances worldwide. With India holding the key to two-thirds of Russian seaborne exports, the stakes could not be higher
