Video length 25 minutes 05 seconds
Western nations want to cut off funds flowing to Moscow’s war effort, but Ukraine says that’s not enough.
After months of negotiations, Western nations and their allies have agreed to limit the price of Russian oil to $60 a barrel.
The Group of Seven (G7) countries, the European Union and Australia hope it will reduce Moscow’s ability to finance its war in Ukraine.
The limit only applies to oil transported by sea.
Moscow has already been selling crude at a deep discount to major buyers, including China and India.
A spokesman says Russia will not accept the move.
Ukraine’s president called it a “disappointment” and said the price should be lowered to $30 a barrel.
So what will the cap accomplish?
Presenter: Dareen Abhaida
Sergei Markov – Director of the Moscow Institute for Political Studies
Ulrich Brueckner – Professor of political science at Stanford University in Berlin
Chris Weafer – CEO of Macro-Advisory, a consultancy focused on Russia and Eurasia