Washington is considering setting a ceiling for the price of Russian oil
Yesterday, US Treasury Secretary Janet Yellen announced during a visit to Canada that the United States is in talks with its allies to set a ceiling on the price of Russian oil with the aim of restricting Moscow's revenues from its black gold.
"We continue to have fruitful conversations with our partners and allies around the world about how to further constrain Russia's energy revenue while avoiding the side effects of this on the global economy," Yellen said during a press conference.
"We're talking about a price cap or price exception, which would broaden and reinforce the recent and proposed energy restrictions" the United States and its allies have imposed on Moscow, she added.
The minister stressed that such measures would "reduce Russian oil prices and reduce the revenues of Russian President Vladimir Putin, while at the same time allowing greater quantities of oil to reach global markets."
According to the US Secretary of State, setting a price ceiling "will prevent side effects on low-income countries and developing countries that are struggling with rising food and energy costs."
Follow our latest local and sports news and the latest political and economic developments via Google news