At the end of 2022, the G7 Group and EU associate States imposed a price limit on Russian oil. The limit was set at $60 per barrel. This mechanics was to hit the Russian economy and limit Moscow's ability to finance the war in Ukraine. After more than a year and a half of the price limit, we can say with full work that this mechanics is not working.
The Russians – utilizing the alleged shadow fleet and a network of customers in Asia – care about the leaky sanctioning system. Moreover, there is no indication that the West will take any crucial steps in the coming months to circumvent the price limit. Paradoxically, the current situation is very beneficial for many Western countries.
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