Lost Russian oil revenue is bonanza for shippers, refiners
Western sanctions on Russia have significantly reduced state oil revenues and diverted tens of billions of dollars towards shipping and refining firms, some with Russian connections.
Analysis: G7 Russian oil price cap evolves from revenue squeeze to market anchor
When U.S. officials first floated the idea of capping Russian oil export prices in response to a planned European embargo in March, they pledged to squeeze revenues to Russia’s war machine, while avoiding a devastating oil price spike.
