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Report: Oil price cap takes small slice of Russia’s revenue

FILE - Oil tankers are moored at the Sheskharis complex, part of Chernomortransneft JSC, a subsidiary of Transneft PJSC, the largest facilities for oil and petroleum products in southern Russia, in Novorossiysk, Tuesday, Oct. 11, 2022. Russia's still making plenty of money from oil sales despite a price cap imposed by the Group of Seven major democracies. Researchers at Helsinki's Centre for Research on Energy and Clean Air said in report Wednesday Jan. 11, 2023 that the cap is too lenient at $60 per barrel. (AP Photo, File) FILE - An oil tanker is moored at the Sheskharis complex, part of Chernomortransneft JSC, a subsidiary of Transneft PJSC, the largest facilities for oil and petroleum products in southern Russia, in Novorossiysk, Tuesday, Oct. 11, 2022. Russia's still making plenty of money from oil sales despite a price cap imposed by the Group of Seven major democracies. Researchers at Helsinki's Centre for Research on Energy and Clean Air said in report Wednesday Jan. 11, 2023 that the cap is too lenient at $60 per barrel. (AP Photo, File) FILE - An oil tanker is moored at the Sheskharis complex, part of Chernomortransneft JSC, a subsidiary of Transneft PJSC, in Novorossiysk, Russia, on Oct. 11, 2022. A price cap and European Union embargo on most Russian oil have cut into Moscow's revenue from fossil fuels, but the Kremlin is still earning substantial cash to fund its war in Ukraine because the $60-per-barrel cap was “too lenient," researchers said Wednesday, Jan. 11, 2023. (AP Photo, File)
Report: Oil price cap takes small slice of Russia’s revenue