The US considers capping oil prices the best way to reduce Russia’s revenues
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The G7 countries (Great Britain, Germany, Italy, Canada, France, Japan and the United States) have made significant progress in imposing restrictions on the price of Russian oil, which will also help in the fight against inflation, said US Treasury Secretary Janet Yellen. The US sees capping oil prices as the best way to cut Russia’s revenues, the White House said.
Ms. Yellen discussed this topic at a meeting with her British counterpart Nadeem Zahavi in Washington. The minister believes that if oil production in Russia stops, it threatens with a “sharp jump in energy prices”, so limiting the price of Russian oil will be more effective. “I am very optimistic about the significant progress made by the teams of our countries and the entire G7 in introducing a price limit (on Russian oil.— “b”)”,— said Janet Yellen.
Tomorrow, September 2, G7 finance ministers will discuss the possibility of reducing Russia’s oil revenues, White House press secretary Karine Jean-Pierre announced. “We believe that this will be a way to hit Russia financially,” she explained during briefing.
In July the EU introduced the sixth package of sanctions against the Russian Federation, which provides for a partial embargo on Russian oil supplies. The United States, Great Britain and Canada have established a ban on the import of oil from the Russian Federation. G7 countries planned introduce a price ceiling for it by December. Meanwhile, Russia has offered up to 30% oil discounts on long-term contracts for Asian countries, figured out Bloomberg.
On the purchase of oil – in the material “Kommersant” “Russian oil spilled over China”.
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