Oil Supply.

A new price cap policy announced by the G-7 countries will ensure that Russian oil stays on the market but at bargain rates, benefitting the surrounding regions as a result. All those who take advantage of this policy are promised to be exempt from sanctions so long as the price cap is adhered to. This has led to India becoming the largest importer of Russian oil in the last month, along with China. If anything, these developments have presented a new opportunity for Pakistan which could be advantageous should we opt to pursue it.

As of right now, 22 percent of all Indian crude imports are being provided by Russia at discounted rates. The G-7 countries have decided on implementing a price cap that will cut the country's oil revenues all the while keeping the commodity on the market. Once the European Union halts its oil imports from Russia, it will scramble to attract buyers who will then be in a leveraging position, resulting in low prices. And so long as the price cap is adhered to, no country who imports Russian oil will be subjected to...