ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

China and India should reject West's Russia oil-price cap plan

Latest sanction effort likely to backfire and cause market turmoil

| China
An oil platform at the Kravtsovskoye oilfield in the Baltic Sea, Russia, in September 2021: China and India helped prevent a major squeeze on global supplies and took some heat out of price pressures.   © Reuters

Vandana Hari is founder of Vanda Insights, a Singapore-based global energy market intelligence provider.

In another misguided attempt to starve the Kremlin of funds to continue its war in Ukraine, Western allies are seeking to form a global buyers' cartel that would impose a ceiling on the price Russia gets for its crude oil in overseas markets.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more