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U.S. Treasury official says Russian oil revenues are falling because of the price cap

U.S. Treasury official says Russian oil revenues are falling because of the price cap

The Group of Seven countries, Australia and the European Union placed a $60 per barrel limit on sea-borne Russian crude oil sales late in 2022.

The alliance will extend sanctions on Russia for its war in Ukraine by putting a price cap on its oil products, such as gasoline and diesel, on February 5.

A US Treasury official has updated on the impact so far.

  • did not put a figure on estimated Russian revenue losses
  • says that the cap has increased shipping costs on... Read More
Posted: Jan 11 2023, 22:58
Author Name: forexlive
Views: 110659

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