Today, Les, Jess, and Jamil discuss the European Union, the United States, and the G7 negotiations surrounding modifications to the EU sanctions on Russian oil set to go in place early this month. The sanction modifications would set a price cap to limit the revenue Russia can make from its oil exports while also averting a global oil shortage.How can the EU, U.S., and G7 put economic pressure on Russia without causing a global oil supply shock? Will the creation of a price cap be effective? How should the Biden Administration strike a balance between cost-of-living increases and economic and military efforts in the ongoing war in Ukraine?Hear our experts debate these issues and more in our latest episode of Fault Lines!Want to learn more about this topic? Check out these articles that our experts used to frame our discussion:https://www.cnbc.com/amp/2022/12/01/russian-oil-sanctions-are-about-to-kick-in-and-they-could-disrupt-markets-in-a-big-way.html  https://apnews.com/article/russia-ukraine-business-moscow-europe-european-union-825506b6a349cce7e5971c0ac550aeaa  Follow our experts on Twitter:@jamil_n_jaffer@NotTVJessJones@lestermunsonLike what we're doing here? Be sure to rate, review, and subscribe. Hosted on Acast. See acast.com/privacy for more information.