WorldPosted at: Jul 12 2022 9:15AM


US, G7 'exploring' price cap on Russian oil

Washington, July 12 (UNI/Sputnik) US President Joe Biden and the leaders of the Group of Seven (G7) countries are “actively exploring” the possibility of imposing a price cap on Russian oil and are consulting with third countries amid record high energy prices in the West, the State Department told Sputnik.
“President Biden and the G7 leaders are actively exploring imposing a limit on the price of Russian oil, consulting with third countries, and have tasked out their Finance and Energy Ministers to pursue a proposal,” the State Department said.
Earlier in July, the US Treasury Department said Treasury Secretary Janet Yellen is seeking to use her upcoming trip to Asia to push for imposing a price cap on Russian oil - a measure that was discussed by the United States and its partners during the Group of Seven (G7) meeting in Germany on June 28-30.
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