Image credit: Alexxx1979/Wikimedia Commons/CC BY SA 4.0/https://creativecommons.org/licenses/by/4.0/
September 20, 2022
Western Nations Will Take Temperature on Proposed Russian Oil Price Cap
Source: The New York Times
Journalist Edward Wong
American and European officials want to avoid sending energy prices soaring before the arrival of winter. European leaders are already grappling with high energy prices and their potential impact on domestic politics. Mr. Putin has cut off some natural gas exports to European countries, in what the Biden administration calls a “weaponization” of energy supplies. U.S. officials and their partners are also expected to try to persuade countries outside the Group of 7 to abide by whatever price cap is set. That includes China, India and Turkey, as well as other countries in Asia, Africa and Latin America.
“The oil price cap — if that’s going to work at all — is dependent on these countries’ willingness to follow the rules established by the West,” said Maria Snegovaya, a postdoctoral fellow at Georgetown University who has written about sanctions on Russia.
Read the full story and more from The New York Times.