U.S., allies need to limit Russian oil revenue -deputy Treasury chief ...Middle East

Russia's oil profits have likely risen despite lower crude exports and the United States and its allies must find ways to reduce Moscow's oil revenue, possibly by capping prices, U.S. Deputy Treasury Secretary Wally Adeyemo said on Tuesday. Adeyemo told a U.S. Senate Appropriations subcommittee hearing that higher oil prices have offset lower production and export volumes since Russia invaded Ukraine in late February.

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