{"id":612322,"date":"2023-10-25T10:47:23","date_gmt":"2023-10-25T05:17:23","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=612322"},"modified":"2023-10-25T12:32:36","modified_gmt":"2023-10-25T07:02:36","slug":"price-cap-on-russian-oil-aims-to-starve-putin-of-cash","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/price-cap-on-russian-oil-aims-to-starve-putin-of-cash\/","title":{"rendered":"Price cap on Russian oil aims to starve Putin of cash"},"content":{"rendered":"<p>For months after Ukraine\u2019s Western allies limited sales of Russian oil to $60 per barrel, the price cap was still largely symbolic. Most of Moscow\u2019s crude \u2014 its main moneymaker \u2014 cost less than that. But the cap was there in case oil prices rose \u2014 and would keep the Kremlin from pocketing extra profits to fund its war in Ukraine. That time has now come, putting the price cap to its most serious test so far and underlining its weaknesses. <\/p>\n<p>Russia\u2019s benchmark oil \u2014 often exported with Western ships required to obey sanctions \u2014 has traded above the price cap since mid-July, pumping hundreds of millions of dollars a day into the Kremlin\u2019s war chest.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>For months after Ukraine\u2019s Western allies limited sales of Russian oil to $60 per barrel, the price cap was still largely symbolic. Most of Moscow\u2019s crude \u2014 its main moneymaker \u2014 cost less than that. But the cap was there in case oil prices rose \u2014 and would keep the Kremlin from pocketing extra profits to fund its war in Ukraine. That time has now come, putting the price cap to its most serious test so far and underlining its weaknesses. Russia\u2019s benchmark oil \u2014 often exported with Western ships required to obey sanctions \u2014 has traded above the price [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,211,144],"tags":[],"class_list":["post-612322","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-pioneer","category-the-pioneer"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/612322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=612322"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/612322\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=612322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=612322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=612322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}