The West’s proposed price cap on Russian oil is no magic weapon
The global energy system is far more flexible than you think
Editor’s note: After months of negotiations, on December 2nd the G7, European Union and Australia agreed to impose a $60-a-barrel cap on shipments of Russian oil.
This article appeared in the Leaders section of the print edition under the headline “Will the cap fit?”
Leaders
December 3rd 2022- Xi Jinping’s zero-covid policy has turned a health crisis into a political one
- The West’s proposed price cap on Russian oil is no magic weapon
- Trustbusters should let Microsoft buy Activision Blizzard
- Why Russia’s cyber-attacks have fallen flat
- Sexual problems can wreck lives. Yet remedies are often simple

From the December 3rd 2022 edition
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A fantastic start for Friedrich Merz
The incoming chancellor signals massive increases in defence and infrastructure spending

The lesson from Trump’s Ukrainian weapons freeze
And the grim choice facing Volodymyr Zelensky
Western leaders must seize the moment to make Europe safe
As they meet in London, Vladimir Putin will sense weakness
Prabowo Subianto takes a chainsaw to Indonesia’s budget
The result? More money for the president’s boondoggles
Inheriting is becoming nearly as important as working
More wealth means more money for baby-boomers to pass on. That is dangerous for capitalism and society
Donald Trump has begun a mafia-like struggle for global power
But the new rules do not suit America