Lol. I’m gonna put a price cap on new F150 pick ups. I will not pay a penny more than 20,000 for a king ranch model. I wonder how long it’ll take Ford to deliver. Idiot EU thinks the buyer sets the price for a fungible product with worldwide demand.
My understanding is the price cap on Russian oil would be enforced by restrictions on shipping insurance, largely controlled by the Europeans.
At first glance the scheme seems simplistic and easily worked around. Some entity outside the collective West could easily step in to insure Russian oil tankers and make a lot of money.
But then the Nord Stream pipelines were attacked, which means all the existing assumptions about the risk to Russian oil shipping must be reconsidered.
If the West is willing to destroy critical civilian infrastructure like the Nord stream pipelines, why wouldn't they attack Russian oil shipments not in compliance with the price caps?