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Podcast: Fault Lines
Episode: Episode 157: The EU, Russian Oil, and Rising Prices: The Biden Dilemma
Description: Today, Les, Jess, and Jamil discuss the European Union, the United States, and the G7 negotiations surrounding modifications to the EU sanctions on Russian oil set to go in place early this month. The sanction modifications would set a price cap to limit the revenue Russia can make from its oil exports while also averting a global oil shortage.How can the EU, U.S., and G7 put economic pressure on Russia without causing a global oil supply shock? Will the creation of a price cap be effective? How should the Biden Administration strike a balance...