Russia's central bank just issued a warning about 'new economic shocks,' and it shows the new $60/barrel cap on oil is working
Business InsiderMAR 26 2023
While the US and Europe seek to pressure Turkey into obeying their rules rather than its own, the truth is that this new insurance verification procedure is aimed at preventing Russia from circumventing sanctions. If Western powers want to deprive Putin of oil revenue, they should be applauding the prudent move by Ankara.
Since this is Kazakh oil and not Russian, there should be no issue here. With shipping companies claiming Turkey is asking for above price cap commission — putting them at risk of facing sanctions — the US and its allies have stepped in to resolve the issue and get oil moving westward again.