Russian oil returns to the top and breaches the western price cap for the first time: the reasons for the increase and how Europe can cope

The attempt by the West to curb the Russian oil industry, limiting its receipts, continues with some success. There are two objectives: on the one hand, to ensure that Moscow’s crude continues to circulate – otherwise a drop in supply would cause a harmful rise in prices –, on the other, to cut the revenue with which the Kremlin finances the war. The strategy, as mentioned, is bearing fruit. In the sense that Ural oil is bought cheaper…