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Report: Oil price cap takes small slice of Russia war chest

Por: ABC News Business January 11, 2023

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FRANKFURT, Germany -- A price cap and European Union embargo on most Russian oil have cut into Moscow's revenue from fossil fuels, but the Kremlin is still earning substantial cash to fund its war in because the $60-per-barrel cap was “too lenient, researchers said Wednesday. The combination of the cap by the Group of Seven major democracies and the EU ban are costing Russia an estimated 160 million euros ($171.9 million) per day, the... + full article



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