Russia poised to largely skirt new G7 oil price cap

FILE PHOTO: A view shows tankers in Nakhodka Bay near the crude oil terminal Kozmino outside the port city of Nakhodka, Russia June 13, 2022. REUTERS/Tatiana Meel/File Photo

LONDON (Reuters) - Russia can access enough tankers to ship most of its oil beyond the reach of a new G7 price cap, industry players and a U.S. official told Reuters, underscoring the limits of the most ambitious plan yet to curb Moscow's wartime revenue.

The Group of Seven countries agreed last month to cap Russian oil sales at an enforced low price by Dec. 5 but faced consternation from main players in the global oil industry who feared the move could paralyse the trade worldwide.