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- Russia Defies Sanctions by Selling Oil Above Price Cap.
23 Jul
Higher prices could bolster Moscow’s oil-export revenues.The price cap on Russian oil is part of a Western economic-pressure campaign against Moscow following its invasion of Ukraine.
Russia notched a victory in the fight for influence over global oil markets in recent days when the price of the country’s most coveted crude traded above a Western price cap imposed to starve Moscow of funds for the war in Ukraine.
