In another move to curb cash flow into Russia, the G7 nations -- Canada, France, Germany, Japan, the UK and the US -- are working on a mechanism to cap the price of Russian oil. This move would build on the European Union’s sixth sanctions package, which will come into effect on December 5.

In the latest episode of the BL Context, Nivedita V talks to Richa Mishra, Chief of News Bureau, Hyderabad and Kolkata, to understand the reasoning behind the price cap, its mechanism and to know how the oil sector could react to the development.