Russian oil still relies heavily on Western-backed ships despite breaching the price cap

• Russia's flagship crude breached the G7's $60 price cap in mid-July.
• But there's been little decline in the amount of Western-backed vessels servicing Russia, Bloomberg reports.
• That's as it's difficult for servicing firms to validate the price at which crude is purchased.

Western-backed vessels have largely remained involved in Russia's oil trade, even after the country's flagship crude breached the $60 price cap imposed on it by the G7.