More on G7 price cap on n oil - will probably adjust the level a few times a year<p>The wheels have turned slowly on this price cap on n oil, but they have turned. </p><p>Via Reuters:</p><p>The G7, including the United States, and the EU is slated to begin implementing the price cap on sea-borne exports of n oil on Dec. 5, to punish Moscow for its invasion of e. The aim is to reduce petroleum revenues for 's war machine while maintaining flows of its oil to global markets and preventing price spikes. A cap on exports of n oil products is slated to begin on Feb. 5.</p><p>the coalition will probably adjust the level a few times a year rather than monthly, a senior U.S. Treasury official said on Tuesday.</p><p><a href="https://www.reuters.com/business/energy/us-says-g7-should-soon-unveil-price-cap-level-n-oil-adjust-regularly-2022-11-22/#:~:text=WASHINGTON%2C%20Nov%2022%20(Reuters),Treasury%20official%20said%20on%20Tuesday" target="_blank" rel="nofollow">Link to Reuters here</a> for a little more. </p>
This article was written by Eamonn Sheridan at forexlive.com.
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