The G7 Plans to Reduce Russia's $80B Annual Oil Revenue to Weaken the Kremlin's War Machine.

How to cut Russia’s oil revenue by $80 bln a year

The G7 plans to reduce Russia's $80B annual oil revenue to weaken the Kremlin's war machine.

The G7 countries are aiming to “maximize pressure on Russian oil exports”. This could reduce Moscow’s income by $80B a year, causing a major blow to its military economy. However, experts warn that restricting Russian oil exports will be ineffective if other producers do not fill the void. Otherwise, supply limits could raise global prices, harming Western economies. In fact, Moscow’s revenue might stay the same or even increase, as higher price…