In another move to curb cash flow into Russia, the G7 nations -- Canada, France, Germany, Japan, the UK and the US -- are working on a mechanism to cap the price of Russian oil. This move would build on the European Union’s sixth sanctions package, which will come into effect on December 5.
In the latest episode of the BL Context, Nivedita V talks to Richa Mishra, Chief of News Bureau, Hyderabad and Kolkata, to understand the reasoning behind the price cap, its mechanism and to know how the oil sector could react to the development.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.