2022 Russian crude oil price cap sanctions

As part of the sanctions imposed on the Russian Federation as a result of the Russo-Ukrainian War, on September 2, 2022, finance ministers of the G7 group of nations agreed to cap the price of Russian oil and petroleum products in an effort intended to reduce Russia's ability to finance its war on Ukraine while at the same time hoping to curb further increases to the 2021–2022 inflation surge. In 2022 the Russian Federation was cushioned against energy sanctions because of a global rise in oil and gas prices.

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