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Russia has sold nearly all its oil well above the West's price cap
Russia successfully sells oil above the Western-imposed price cap of $60 per barrel, with over 99% of oil traded exceeding the ceiling. The price cap, introduced by the EU, G7 countries, and Australia, aimed to curb Russia's ability to finance the conflict in Ukraine. After initial difficulties in finding enough ships for transport, Russia managed to place most of its exports with domestic or non-Western foreign shippers that don't require Western insurance coverage.
Russia successfully sells oil above the Western-imposed price cap of $60 per barrel, with over 99% of oil traded exceeding the ceiling. The price cap, introduced by the EU, G7 countries, and Australia, aimed to curb Russia's ability to finance the conflict in Ukraine. After initial difficulties in finding enough ships for transport, Russia managed to place most of its exports with domestic or non-Western foreign shippers that don't require Western insurance coverage. 
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