April 23, 2024

Japan to buy Russian Oil Above Cap in Turn on Allies

Japan, won exception to buy Russian oil above the $60 cap due to it’s needs of energy. However, the cap was put in place to thwart Russia. The U.S. had rallied its European allies behind a $60-a-barrel cap on purchases of Russian crude oil, but one of Washington’s closest allies in Asia is now buying oil at prices above the cap.

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