Capping Russia’s oil exports in an attempt to nail Moscow’s military budget

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Written By Jennifer Joslyn

🛢️ Capping Russia’s oil exports in an attempt to nail Moscow’s military budget.

That’s the latest way Western companies are punishing Russia for its invasion of Ukraine - making way to limit its fossil fuel earnings. Set to take effect on December 5th, the cap on Moscow’s oil price will also result on the same day of the European Union’s boycott of Russian oil. It’s uncertain what both measures will do in terms of the price of oil overall, as the moves also are in line with lower demand and a slowing economy.

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Jennifer Joslyn
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