Washington reveals price cap range for Russian oil ...News

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Washington reveals price cap range for Russian oil
The US Treasury chief has called for a $60-a-barrel price ceiling on crude from Russia Setting a price ceiling for Russian oil at about $60 per barrel is expected to reduce Moscow’s energy revenues while still ensuring profitable production, according to US Treasury Secretary Janet Yellen. “So, certainly a price in that range would be sufficient to feel that Russia could profitably produce and sell oil,” she told an event at the International Monetary Fund and World Bank meetings in Washington, adding that Russia’s cost of production was “low.” Yellen stressed that Moscow has been willing to produce and sell oil i

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