18 January 2023
Price Cap on Russian Oil to Lead to Increase in Global Energy Costs
The Roscongress Foundation has prepared an analytical article entitled ‘The Paradox: How Oil Price Caps Lead to Increase’ about the Russian oil price cap mechanism introduced in December 2022 by the G7, European Union, and Australia. The authors of the article believe the restrictions will have the unexpected result of leading to an increase in the price of oil on the international market, including Western benchmarks, instead of causing a significant reduction to Moscow’s revenues from the sale of energy resources, the original hope of the project’s initiators.