Why finding a real Russian oil price cap is proving so hard for the policymakers from Europe

European diplomats trying to reach a deal to curb Russian oil prices are wrestling with an awkward truth: Moscow’s main benchmark crude is already trading below the levels proposed for the cap.
Talks have so far focused on levels from $62 to $70 a barrel. Those who want the oil to keep flowing want a high cap, while those prepared to choke off Russia’s vast crude supply are pushing for a lower one.