These Prices Suggest G-7’s Cap Is Hitting Russian Oil Revenues

Maintain the flow, hit the money: that’s the mantra of the Group of Seven nations as they seek to keep Russian petroleum in the global market while limiting the country’s access to petrodollars to fund its war in Ukraine.

Data provided by Argus Media Ltd. indicate the main approach being taken to achieve that — a G-7-imposed cap on the price at which Russian crude is sold — is working.