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Oil Price Cap Discussions "Productive": Yellen

OIL

Yellen said over the weekend that discussions via bilateral and G20 meetings last week on a Russian oil price cap had been productive.

  • "On energy costs, I had productive bilateral meetings with over a half-dozen of my counterparts where we discussed the merits of a price cap and how it can help us achieve our goals of denying Putin revenue for his war machine, while dampening energy costs," Yellen said.
  • Yellen referred to the price cap as "our most powerful tool to address the high prices people are facing in America and around the world.".

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