Russian oil price cap idea ‘ridiculous’ – former US Treasury secretary ...News

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Russian oil price cap idea ‘ridiculous’ – former US Treasury secretary
source : Russia Today ( News ) () 33
The G7 plan might badly affect the energy market, Steven Mnuchin said Former US Treasury Secretary Steve Mnuchin has criticized the Group of Seven (G7) plan of capping the price of Russian oil in an interview to CNBC. The measure, which is due to be implemented early next month, is “not only not feasible, I think it’s the most ridiculous idea I’ve ever heard,” Mnuchin said. The former official said that “the market is going to set the price. So if you put sanctions on at higher prices, in a way you’re just making the situation worse.” The G7 countries, comprising the US, Canada, UK, Germany, France, Italy, and Jap

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