The cap helps achieve “our dual goals of putting pressure on global energy prices while depriving Putin of revenue to fund his brutal war in Ukraine,” Yellen said in a statement.
US Treasury Secretary Janet Yellen said today that a price cap on Russian oil agreed by G7 finance ministers would help fight inflation while also hurting Moscow’s ability to finance its war in Ukraine .
The cap helps achieve “our dual goals of putting pressure on global energy prices while depriving Putin of revenue to fund his brutal war in Ukraine,” Yellen said in a statement.
Japanese Finance Minister Shunichi Suzuki welcomed the Group of Seven finance ministers’ agreement to set a price ceiling on Russian oil exports and called for the swift implementation of the decision.
Suzuki told reporters that the cap would help moderate rising energy prices and inflation.
RES-EMP
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