Russia Ships Crude Oil To India Under Price Cap Mechanism

December 16, 2022
Posted by: AliensFaith
Category: OBJECTIVE PRESS

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Russia is shipping crude oil to India under the price cap mechanism on tankers insured by Western companies, in an early sign that Russia is not cutting off crude supply that complies with the G7 price cap of $60 per barrel, the Financial Times reported on Friday, citing its own analysis of insurance and shipping data. The price cap on Russian crude imposed by the EU, the G7, and Australia came into effect on December 5. Under it, buyers paying $60 or less per barrel of Russia’s crude will have full access to all EU and G7 insurance and financing…

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

Russia Ships Crude Oil To India Under Price Cap Mechanism

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