Widespread Russian Oil Price Violations Likely Took Place in Asia in the First Quarter
- First-quarter price at Pacific ports averaged $73.14 a barrel
- Price threshold on Russian crude exports is $60 a barrel
This article is for subscribers only.
Widespread breaches of the Group of Seven oil price cap likely took place in Asia in the first quarter, according to a team of researchers who analyzed official data on Russia’s foreign trade alongside shipping information.
In December, the G-7 imposed a $60 a barrel price cap on Russian oil, barring companies in those nations from providing a wide range of services, particular insurance and shipping, if the cargoes were bought above that level.