2023-10-10 07:20:00
© Archyde.com. The United States intends to enforce the Russian oil cap on a broader scale
Arabictrader.com – US Treasury Secretary Janet Yellen spoke during an interview with the Wall Street Journal yesterday, Monday, that the United States is considering enforcing the ceiling imposed on Russia on a large scale and making sure that market participants are fully aware that the United States is taking this price ceiling on seriously.
Yellen added that the United States is working to enforce compliance with the maximum price of Russian oil of $60 per barrel, but did not reveal any specific enforcement measures.
The US Treasury Secretary also indicated to require Western companies that trade in or insure Russian oil to complete their activities in one case only, which is to commit to selling Russian oil at or below the previously imposed maximum price. If Western companies do not adhere to the price ceiling, they will face the threat of sanctions from Before the United States and its allies.
Last year, the United States and its allies imposed a price ceiling for Russian crude oil. In an effort to undermine the oil revenues that Russia receives to finance its war with Ukraine.
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