Abstract
High in the Bavarian Alps, at a special security session, G7 leaders set out to devise an ambitious plan to sanction Russian energy sales. The intent was to reduce Russian profits from oil and gas sales, while minimizing the damage to developed economies caused by rising fuel prices and inflation. The proposed solution, a ceiling on the price of oil and gas, is a new, untried method, which will be carefully constructed to allow oil to continue to flow to low- and middle-income countries, while limiting the economic benefit to Russia.
