SINGAPORE, Nov 23 (Reuters) – An upcoming price cap on Russian oil by the G7 countries is likely to divert trade to smaller companies, Dutch energy and commodities trader Vitol CEO Russell Hardy said on Wednesday.

Larger companies such as Western banks and insurance companies will not participate in the trades unless there is absolute clarity that the contract’s price is below the price cap, Hardy said at the FT Commodities Asia Summit in Singapore.

So the challenge…

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