Russia moves to cut oil production over western price caps
Russian exporter Gazprom has cut off most supplies of natural gas to Europe, citing technical issues and refusal by some customers to pay in Russian currency.
Russian oil
Canada joining G-7 countries, Australia to expand price caps on Russian oil
The Department of Finance says the caps will be enforced by prohibiting buyers who do not abide by the price caps from obtaining services from companies in the G7 or Australia.
EU countries agree to additional price caps on refined Russian oil products
The price caps are $100 per barrel on products that trade at a premium to crude, such as diesel, and $45 per barrel for products that trade at a discount, such as fuel oil.
Russian oil price cap ‘too lenient,’ as Moscow still able to fund war effort: report
Oil markets, however, are now less focused on a potential loss of Russian oil than on weak demand from a slowing global economy, and prices have fallen.