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Washington says it is studying a cap on the price of Russian oil

2022-06-21T04:35:14.408Z


The United States is discussing with its allies to further restrict Russia's oil revenues by capping the price of its crude oil, a...


The United States is talking with its allies to further restrict Russia's oil revenues by capping the price of its crude oil, US Treasury Secretary Janet Yellen said Monday during a visit to Canada.

"

We continue to have productive conversations with our partners and allies around the world about how to further restrict Russia's energy revenues, while avoiding collateral effects on the global economy

," Janet Yellen said during the briefing.

'a press conference.

Read alsoThe European embargo on Russian supplies fuels the oil surge

We are talking about price caps or a price exception that would expand and tighten recent and proposed energy restrictions

” imposed by the United States and its allies, “

which would drive down the price of Russian oil and contract revenues .

of Putin while allowing more oil to reach the global market

,” she explained.

A price cap "

would prevent collateral effects on low-income and developing countries struggling with high food and energy costs

," she said.

Fight against inflation

Janet Yellen traveled to Canada to strategize with local Deputy Prime Minister Chrystia Freeland on how the two countries will continue to tackle the Ukraine crisis, tackle runaway inflation, strengthen chains global supply chains and securing critical minerals.

Read alsoEurope will cut off 90% of Russian oil from the start of 2023

Both agreed that managing inflation was primarily a matter for central banks, but said governments could eventually adopt targeted measures to relieve Americans and Canadians facing purchasing power problems, particularly on the food and fuel.

Source: lefigaro

All business articles on 2022-06-21

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