November 14, 2022 08:13 GMT
Russian Oil Price Cap to Benefit China and India: Yellen
China and other buyers of Russian oil will benefit from the new oil price cap set to be imposed in December according to US Treasury Secretary Janet Yellen earlier today.
- "We see the price cap is something that benefits China benefits India, and benefits all purchasers of Russian oil," Yellen said.
- She added that the price cap will give China and other buyers of Russian oil more leverage to negotiate lower prices.