There are three things Vladimir Putin needs to maintain his war of expansion in Ukraine, starting with soldiers and bullets. Neither, however, would be possible without the steady supply of money.
To staunch this supply and hit the Russian president where it hurts him most, Western governments designed a $60 oil price cap whose avowed goals appear to be at odds: to prevent Putin from profiting off a conflict he started; and to minimize supply disruptions that harm the global economy.
