BRUSSELS, Jan 13 (Reuters) - Six European Union countries called on the European Commission to lower the $60 per barrel price cap put on Russian oil by G7 countries, arguing it would reduce Moscow’s revenues to continue the war in Ukraine while not causing a market shock.
My understanding is that it isn’t just a bug that some gets through, but a feature. We do want/need at least some of the oil on the world market, we just don’t want Russia to profit from it. That’s the whole idea behind having a price cap rather than sanctions that directly target and prevent anyone buying their oil.