Perspective: Russian Oil Price Cap | 25 November, 2022

Sansad TV
U.S. Treasury Secretary Janet Yellen has proposed to cap price of Russia’s oil exports along with other G7 allies as a way to limit Russia’s earnings while keeping Russian oil flowing to the global economy. The cap is set to take effect on 5th December, the same day when European Union will impose a boycott on most Russian oil. Russia, the world’s No. 2 oil producer, has already rerouted much of its supply to India, China and other Asian countries at discounted prices. Russia has said it will not observe a cap and will halt deliveries to countries which will follow this cap. Russian President Vladimir Putin warned on Thursday that Western plans to introduce oil price caps could have grave consequences for energy markets. So what is the price cap on Russian oil and how would it work. More importantly what would be its impact on the global economy.

1. Kate Dourian, Contributing Editor, MEES
2. Saurabh Chandra, Former Secretary, Ministry of Petroleum & Natural Gas
3. Don McLain Gill, Geopolitical Analyst
4. Gulshan Sachdeva, Professor, Centre for European Studies, JNU

Anchor: Vishal Dahiya
Producer: Pardeep Kumar
Production: Sagheer Ahmed
Guest Team: Vishwa Pratap Singh, Lokesh bhardwaj
PCR Team: Asutosh jha, Sanjeev Gupta

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