On June 27, Scowcroft Center director for democratic order Ash Jain was interviewed by CNBC on the G-7 decision to implement oil price caps on Russian oil and sanctions against Russia.
One of the most intriguing ideas to come out of the G-7 summit is that of an oil price cap. The US and its allies face dilemmas when it comes to Russia… An oil price cap sets a limit on what European nations and other developing countries, if they decide to join, would pay for that oil and keep oil prices stable, which can deny Russia the oil revenues it is seeking.”