![Will G7's price cap on Russian oil work [CGTN]](https://i0.wp.com/usachinatrading.com/wp-content/uploads/2022/12/Will-G7s-price-cap-on-Russian-oil-work.jpg?resize=525%2C295&ssl=1)
The G7, as well as Australia, and the EU’s price cap on Russian crude oil, has come into force. They’ve agreed to restrict the price of Russian oil to $60 a barrel, just slightly below the current price of $64 U.S. dollars. The goal is to hit Russia with yet another round of economic sanctions. But the question is—- will the cap really achieve their objectives? Check out the video: