Russian oil exports have generated $11 billion through a shadow fleet and obscure entities in the year since G7 countries set a price cap on one of Russia’s largest sources of income, Bloomberg reported Wednesday, citing trade data.
In December 2022, the group of rich countries imposed a $60-per-barrel price cap on Russian oil, while the EU banned almost all oil imports from Russia, in retaliation to the Kremlin’s invasion of Ukraine.
