What to know about the EU and G7’s new Russian oil ban and price cap

The European Union, United States and G-7 nations are trying to squeeze Russia’s massive fossil fuel revenue through newly-enacted sanctions to punish Moscow for its invasion of Ukraine. The European Union’s ban on the import of seaborne Russian crude oil went into effect on Monday, along with a $60-a-barrel price cap on Russian oil shipped to the rest of the world. POLITICO Europe’s Chief UK Correspondent Charlie Cooper breaks down the latest Russian sanctions, how Moscow is privately and publicly responding, and how these moves could impact the energy markets. Plus, the Environmental Protection Agency has proposed closing a reporting loophole for PFAS chemicals. Josh Siegel is an energy reporter for POLITICO. Charlie Cooper is the Chief UK correspondent at POLITICO Europe. Nirmal Mulaikal is a POLITICO audio host-producer. Raghu Manavalan is a senior editor for POLITICO audio. Jenny Ament is the executive producer of POLITICO’s audio department.