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Good morning. Russia still relies on Europe for oil transport, concerns continue about China’s property sector, and Jamie Dimon warns the world may not be ready for Fed at 7%. Here’s what people are talking about.
Russian Oil
Russia is still relying on European shipping to transport its oil even as the country’s supplies exceed Group-of-Seven price caps, according to a researcher. Roughly two-thirds of Russian crude and petroleum products is being transported by vessels insured or owned in nations implementing price caps imposed by the G-7 and its allies, the Helsinki-based Centre for Research on Energy and Clean Air said. That shows Moscow is still heavily using the European shipping industry, it said.