Want to create an interactive transcript for this episode?
Podcast: In Focus by The Hindu
Episode: Will Russian oil price caps be effective
Description: Western powers, particularly the Group of Seven wealthy nations are working to fix a price cap on Russian oil. They expect major buyers in the West, Australia included, will comply and not buy Russian oil above the price cap. Their hope is that even countries that don’t formally subscribe to the cap, will use the opportunity to negotiate with Russia and buy the Urals crude at prices cheaper than even the price they now get – which is said to be at a 20-30% discount to global oil prices. The idea is to allow Russian oil to continue to flow...