The United States and Canada are stepping up pressure on Russian oil

The United States is in talks with Canada and other allies to further limit Moscow’s energy revenues by imposing price ceiling for Russian oilFinance Minister Janet Yellen said on Monday.

Speaking to reporters in Toronto, along with Canadian Finance Minister Christie Freeland, Yellen said it was a price cap or price exemption that would strengthen and reinforce recent and proposed by Europe, the United States, the United Kingdom and other countries energy restrictions. they would lower the price of Russian oil and they would cut Putin’s revenuewhile allowing the world market to reach a greater supply of oil.

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We believe that the price ceiling is also an important way to prevent side effects on low-income and developing countries struggling with high food and energy costsJanet Yellen recalled.

She said the price ceiling is an effective ceiling that can be achieved through a mechanism to limit or ban insurance or financing of Russian oil supplies above a certain amount.

The United States, Canada, Britain and some other countries have banned Russian oil imports, but the European Union remains heavily dependent on Russian crude oil.

Asked if US President Joe Biden plans to seek consensus on a plan for oil prices at next week’s G7 summit in Germany, Yellen said: “We are very activewe are actively working on this issue with our partners. “

The war in Ukraine: Russia earns $ 97 billion from gas and oil exports

The war in Ukraine: Russia earns $ 97 billion from gas and oil exports

Read more:  DOCUMENT: Son of an Enemy of the State Part 1.

The main importer is the EU

Freeland said Canada “considered it a really good idea” to try to limit Russia’s oil revenues, but acknowledged that this would be a challenge for European countries.

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