About this work
Separating the effects of the G7 oil price cap from the EU embargo was essential to judging sanctions in February 2023. Robin Brooks, Jonathan Fortun and Jonathan Pingle argue that the embargo had already widened the discount on Russian crude, leaving the cap nonbinding. They examine the representativeness of tanker traffic data and the limits of conclusions available at that early stage.
Abstract
Separating the effects of the G7 oil price cap from the EU embargo was essential to judging sanctions in February 2023. Robin Brooks, Jonathan Fortun and Jonathan Pingle argue that the embargo had already widened the discount on Russian crude, leaving the cap nonbinding. They examine the representativeness of tanker traffic data and the limits of conclusions available at that early stage.
Cite this work
Robin Brooks, Jonathan Fortun, Jonathan Pingle (2023). Global Macro Views: More on the G7 Price Cap. Institute of International Finance.