The G7’s oil price cap is a perilous gamble
![](https://www.isdp.eu/wp-content/uploads/2022/09/720x405_g7_shutterstock.png)
Johannes Nordin
Introduction:
Right before Russia’s Gazprom completely stifled gas flows through the Nord Stream I pipeline, G7 leaders had agreed in early September to implement a price cap on Russian energy exports. By leveraging Europe’s central position in the global maritime insurance industry, these measures seek to lower Russia’s inflated energy income not just from sanctioning states but from third countries as well.
However, the eleventh-hour mechanism carries grave risks and unintended consequences that shouldn’t be ignored.
Related Publications
-
Trade, Connectivity and Supply Chains in EU-India Relations
In the decade and a half since 2007 when the EU and India first started their FTA negotiations, the world economic order has undergone a sea change. During that period, […]
-
Needed, a Framework to Protect Undersea Cables
In the data-driven world we live in, submarine cables are the arteries that connect nation-states and their people in literally every human activity, including trade, commerce, entertainment, and social interactions. […]
-
ISDP Annual Report 2023
ISDP’s Annual Report for the year 2023. We look back on 2023, a year in which tensions and conflicts captured the strategic space in ISDP’s focus areas, making headlines around […]
-
Beyond Debt: How China’s Ultralong Bonds Could Reshape Global Geopolitics
In a bid to revitalize its sluggish economy, China has announced the sale of $140 billion in ultralong bonds. This financial manoeuvre is set in a context marked by declining […]
-
Strategic Standoffs: How Repeated Games Illuminate the Future of South China Sea Disputes
Introduction The motivation to put this piece together was observing the recent bizarre and, dare I say, childish behaviour of the Chinese Coast Guard in the South China Sea (SCS), […]