Jul 25 2022
As Russia continues its invasion of Ukraine, the Biden administration is contemplating ways to starve the Russian economy of revenues, the bulk of which come from Russian oil and energy exports.
As part of that effort, the US Treasury Department has been lobbying European and Asian leaders to support a price cap on Russian oil. Details of how that would be structured and enforced have been scant, but the idea is that a price cap would allow Russian crude supplies to continue to flow to the global marketplace but at a low enough price that Russia would not reap any benefits.
Senior editor Jasmin Melvin asked several oil market experts to weigh in on one question: Can the West enforce a global price cap on Russian oil, and will it result in lower prices?
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Stay tuned after the interview for a special message from Capitol Crude host Meghan Gordon, and for the Market Minute with Starr Spencer.
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