Leaders | Will the cap fit?

The West’s proposed price cap on Russian oil is no magic weapon

The global energy system is far more flexible than you think

The Nordmarlin, a crude oil tanker operated by Nord Group, anchors off the coast of Southwold, U.K., on Friday, May 15, 2020. Nine tankers carrying about 5.58 million barrels of North Sea crude that loaded in April are floating off U.K. ports, according to ship-tracking data compiled by Bloomberg. Photographer: Chris Ratcliffe/Bloomberg via Getty Images

Editor’s note: After months of negotiations, on December 2nd the G7, European Union and Australia agreed to impose a $60-a-barrel cap on shipments of Russian oil.

This article appeared in the Leaders section of the print edition under the headline “Will the cap fit?”

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