The G7 oil price cap may have come into effect on Monday, but Russia’s response is to consider a “price floor” on its crude oil exports, two officials familiar with Moscow’s plan told Bloomberg on Tuesday.

Russia had previously said it would not ship crude to anyone who goes along with the G7 oil price cap and might even respond by curbing oil production, rather than shipping its oil at an excessive discount, as the G7 does imposes a price cap.

The G7…

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