G-7 Price Cap on Russian Oil Tested as India Pays Record Premium
- Refiners take Moscow’s flows at widest difference after rally
- Policymakers including Yellen weigh effectiveness of mechanism
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Refiners in India are buying cargoes of Russian oil at the widest premium above a G-7 imposed cap since the curb was introduced, highlighting the market’s importance to Moscow and a gap that may intensify scrutiny of the controversial mechanism.