Russia Sold Oil Far Above Price Cap, Researchers Say
- Prices averaged $74 a barrel in first weeks after price cap
- Authors advise stricter enforcement of oil sanctions
An oil pumping unit at a drilling site near Almetyevsk, Russia.
Photographer: Andrey Rudakov/Bloomberg
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Russian companies got far more money from selling the country’s oil than previously thought in the weeks that followed the imposition of a price cap on the nation’s exports, a group of academics said.
The research weakens the idea that the price limits are crushing Moscow’s revenue to fund the war in Ukraine.