US Wants to Cap Russian Oil Revenues
US Treasury Secretary Janet Yellen said on Monday talks are continuing with allies to further restrict Russia’s energy revenues by imposing a price cap on the country’s oil.
“We are continuing to have productive conversations, today and with our partners and allies around the world with how to further restrict energy revenues to Russia while preventing spillover effects to the global economy,” Yellen said during a press conference. “We are talking about price caps or a price exception…”.
The United States, Canada, the UK and some other countries have banned imports of Russian oil, while the EU, which remains highly dependent on Russian energy supplies, agreed on a partial block by the end of 2022.
