Since December 5, the European Union, the Group of Seven and Australia have officially implemented the "price limit order" for Russian crude oil exported by sea - setting the upper limit of Russian oil price by sea at $60 per barrel. In addition, the EU will review the operation of the price limit mechanism every two months and make corresponding adjustments according to market conditions to ensure that the price ceiling is at least 5% lower than the average market price of Russian petroleum products. According to this price limit mechanism, if the price of crude oil sold by Russia to a third country is higher than the upper limit, enterprises in the European Union and the Group of Seven will be prohibited from providing insurance, financial and other services for Russian crude oil transportation. In response to this move by the West, Russia said that it would not supply oil and petroleum products to countries that impose price limits on Russian oil. Experts believe that the symbolic significance of the price limit mechanism is greater than the practical significance, and whether it works depends largely on the reaction of buyers in major oil producing countries and the international market. If Russia refuses to accept and stops exporting oil to countries that implement price limits, this price limit mechanism that forcibly intervenes in the market may become invalid, and it will bring new uncertainties to the supply side of the market, increasing the risk of supply shortage and higher oil prices. After several games, we reached a consensus that this price limit measure replaced the embargo on crude oil exports to Russia agreed by the EU in May this year. At that time, the embargo measures designed by the European Union stipulated that the import of Russian marine crude oil was prohibited from December 5, and the import of Russian petroleum products was prohibited from February next year. This time, the introduction of the "price limit order" for Russian oil was quite tortuous. This proposal was first proposed by the United States. In September this year, the finance ministers of the Group of Seven countries issued a statement confirming their intention to impose a price ceiling on Russian oil. Since October, the EU has been working hard to promote this motion, but the EU member states are quite different about the specific price ceiling and have been unable to reach an agreement on the "price limit order". Initially, the Group of Seven proposed a ceiling price of US $65 to US $70 per barrel for Russian oil. For this ceiling price, the EU has a fierce internal game. Greece, Cyprus and Malta, which take the shipping industry as the economic pillar, have repeatedly warned that sanctions may hurt the shipping industry and do not want the oil price to be lower than 70 dollars. The Baltic states almost killed the price limit on Russian oil. Poland, Estonia, Lithuania and other countries believe that the price ceiling should be set between 30 and 40 dollars per barrel. Finally, Poland became the last country in the EU to agree to the price ceiling of US $60 per barrel on the premise of meeting certain conditions. The analysis points out that this is a historic moment in the oil market and will reverse the situation in which Russia gains huge profits from its energy trade with Europe. Data shows that since February, Russia's oil and gas export revenue has increased by nearly 50%. However, some critics said that this or the moment of compromise in Europe, the price ceiling would open the "back door" for the oil embargo against Russia. Agence France Presse noted that the latest price ceiling has relaxed the restrictions, allowing European companies to provide services for Russian tankers that comply with the price ceiling. It can be seen that there is a subtle relationship between the price ceiling and the oil ban. As the EU is no longer the largest customer of Russian oil, the global oil market balance is being broken, and the price ceiling provides a buffer for this imbalance. In the face of price limiting measures, Russia is tough. Deputy Prime Minister Novak of Russia said that Russia