“We, the West, will not provide insurance to Russian ships carrying oil, so they will have huge problems in delivering it to customers,” Biden said.
He added that the US will allow Russia to make money from oil, but not at the prices that are now.
As Bloomberg reported earlier, citing sources, Cypriot Finance Minister Konstantinos Petrides, in a conversation with his US counterpart Janet Yellen, rejected Washington's demand to ban the transportation of Russian oil.
Greece and Malta also questioned a possible ban by the European Union on transporting oil from Russia to third countries, as this could help the competitors of the EU itself.