The price of Russian crude oil has risen above a price cap set by the Group of Seven nations, in the first “real test” of whether the West can enforce one of its key sanctions against Moscow.

FRANKFURT, Germany (AP) — Major Western measures to limit Russia’s oil profits over the war in Ukraine took effect Monday, bringing with them uncertainty about how much crude could be lost to ...

The G7's price cap on Russian energy exports is an example of Western policymakers trying to have their cake and eat it, too. It's also one that is likely to fail.

If the cap had been as low as $50, it would cut into Russia’s earnings and make it impossible for Russia to balance its state budget, with Moscow believed to require around $60 to $70 per barrel ...

Prices for Russian oil have risen well above a price cap imposed by Western allies as part of sanctions over the invasion of Ukraine. And that is putting the cap to its first serious test.

The $ 60-per-barrel price cap on Russian crude oil, which came into effect on Monday, looks pretty straightforward. Buyers paying $60 or less per barrel of Russia’s crude will have full access ...

The Yarakta oil field in Russia’s Irkutsk region. Russian officials have said they would refuse to sell oil under the price cap. Photo: vasily fedosenko/Reuters ...

The idea of the cap, pitched hard by U.S. Treasury Secretary Janet L. Yellen, is to limit how much Russian President Vladimir Putin can make on the oil he diverts elsewhere in the world without ...