Also on Dec. 5, the Group of Seven leading economies implemented a $60 price cap on Russian seaborne oil to try to limit Moscow's ability to finance its war in Ukraine.The Western actions have left Russian producers in fierce competition with each other and with suppliers from Asia, Europe and the Middle East, meaning their best hope of finding buyers is to lower prices, two traders said.The value of the Dated Brent benchmark hovered below $80 a barrel early in December, while the estimated cost of Russian oil for producers including extraction, tax and transport costs to export ports stood around $15-45 per barrel, deputy energy minister Pavel Sorokin said last year.Urals supplies to India in November rose to at least 3.7 million tonnes and reached a record 53.2% of overall grade's loadings via sea ports last month, Refinitiv Eikon data showed.Russia emerged as biggest oil supplier to India in November replacing Iraq, data obtained from trade sources showed."