Despite the widespread sanctions imposed against Russia by the West, Russia's oil sector is booming. Its monthly income from oil exports is now greater than it was before the Ukraine war.

Russian oil defies sanctions

It's past the time to remove Russia's ceiling on oil prices well the fact here is that it is not working as of now and even worse it increases the chance of an environmental catastrophe. Let's now take a look at this next report to understand the Russian price cap policy and its impact so far.

Environmental concerns rise amid Russian oil price cap

The Kremlin may decide to cut oil production by around seven per cent in the first quarter of 2023 in the aftermath of the oil price cap imposed by the European Union members, a Russian deputy prime minister said on Friday according to AFP.

Russia may cut down oil production in response to EU-imposed price cap

Russian President Vladimir Putin has threatened to stop oil sale to the countries agreeing to the West-led decision to impose a price cap, adding that it will reduce oil production.

Putin threatens to cut oil production over price cap, stop sale to nations insisting on ceiling

The Kremlin said on Monday that the oil price cap imposed by the European Union members may have a major impact on the global energy markets but "will not affect” the ongoing conflict in Ukraine.

Oil price cap 'will not affect' Russian military operation in Ukraine

Ukrain's President Volodymyr Zelensky said on Saturday that a $60 price cap per barrel on seaborne Russian oil, imposed by the G7 (Group of Seven), the European Union and Australia, is "not serious".

Zelensky says $60 price cap on Russian oil is ‘not serious’, won’t push Moscow into ending war

Moscow on Saturday (December 3) responded to the "dangerous" price cap on Russian crude oil which has been imposed by the Group of Seven (G7) countries, the European Union and Australia.

'Will not accept this': Russia rejects 'dangerous' oil price cap imposed by EU, G7 and Australia

During a phone call with the Iraqi Prime Minister on Thursday, Russian President Vladimir Putin warned that Western proposals to impose oil price caps might have "grave consequences" for the energy markets.

Putin discusses West's bid for capping oil price with Iraqi PM, warns of 'grave consequences'

As the war in Ukraine grinds on Russia, the Western powers are looking for ways to afflict economic pressure on each other. In the latest, the G7 countries have come to an agreement over a price cap on Russian oil even as Russia has delayed opening a pipeline, which is a major source of oil to Germany.

G7 to impose price cap as Russia misses deadline to restart gas supplies

Russia misses deadline to restart gas supplies, G7 to impose price cap

G7: Price cap per barrel under discussion, to be introduced in December

G7 nations on Friday (September 2) vowed to "urgently" implement a price cap on Russian oil imports with a view to cut a major source or Russian revenue in light of Ukraine war.

G7 nations talk of implementing Russian oil price cap 'urgently'

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