US Treasury chief on oil price ceiling: so far so good
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US Treasury Secretary Janet Yellen called the goal of the ceiling on Russian oil prices to limit the income of the Russian Federation while continuing supplies to the market. After a week of sanctions, Ms. Yellen believes that “so far so good.”
“Our two goals are to reduce Russia’s income, make it harder for them to wage war, and keep world prices in a moderate range and avoid spikes,” Ms. Yellen said in an interview. CBS.
The journalist of the TV channel noted that this is “a rather delicate balance.” “Yes it is. The price ceiling came into effect only at the beginning of this week. But I would say that so far everything is fine,” the minister added.
The price ceiling was previously introduced by the countries of the European Union, the G7, as well as Australia and Norway. The limit is set at $60 per barrel. The sanctions imply that companies in countries that have agreed on a ceiling cannot provide brokerage, shipping, insurance and other services for the sea transportation of Russian oil to third countries, unless this oil is sold at a price below a certain level. Russia develops constraint response.
On the impact of sanctions on production in the Russian Federation – in the material “Kommersant” “Oil jumped to the ceiling”.
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