Will an oil price cap manage to reduce the flow of revenue to Russia?

In early September 2022, the finance ministers of the G7 countries confirmed their intention to implement a price cap on purchases of Russian oil and related products. Their objective is to reduce Russia’s ability to fund its invasion of Ukraine while limiting the war’s impact on global energy prices. A survey by the Initiative on Global Markets asked economists for their thoughts on price caps. Romesh Vaitilingam summarises the results.