Russia's long-awaited response to the G7 oil price cap is coming early next week, according to Putin himself. He noted that there are no losses for the Russia economy from the price cap, which to me suggests that he's not going to retaliate with anything too dramatic. That fits in with older reports saying he's not leaning towards a price floor or spread to brent. Instead, Russia will ban selling in any contracts that mention the price cap.
Putin will sign a decree on the response to the oil price cap on Monday or Tuesday
- Reports have said that harsh responses aren't likely
