The deadline is looming for Western allies to agree on a price cap on Russia oil. Analysts say the price cap, spearheaded by the U.S. Treasury Department, could be difficult to enforce. The European Union is banning all seaborne imports of Russian oil, a move that takes effect Monday. The two moves are intended to limit Russia’s ability to fund its war in Ukraine but are designed to prevent disruptions in oil supplies that could cause higher prices. Most energy sanctions, like those against Iran and Venezuela, target volume, not price, analysts say. ‘What policymakers are trying to do is cut the world’s largest oil exporter out of the market to a degree,’ one analyst says. ‘They’re trying to cut Russia off from Europe, which . . .
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