[...]
For now, however, Treasury officials are publicly < eyebrows > adamant that Putin will not follow through with that threat. They also note that Europe had been planning to implement a full embargo [sic] on Russian oil, and that the price cap presents an opportunity for the Kremlin to continue to supply world markets.

"Russia may bluster and say they won't sell below the capped price, but the economics of holding back oil embargo just don't make sense," Deputy Treasury Secretary Wally Adeyemo said Friday.

By Jeff Stein
Jeff Stein is the White House economics reporter for The Washington Post. He was a crime reporter for the Syracuse Post-Standard and, in 2014, founded the local news nonprofit the Ithaca Voice in Upstate New York. He was also a reporter for Vox.