US Planning on Steps to Enforce Russia Oil Price Cap

The Wall Street Journal report that the US is planning on taking steps to enforce the $60/barrell price cap on Russia oil.

• "The U.S. is preparing to crack down on evasion of its marquee sanction on the Russian oil industry, an attempt to shore up a novel price-cap regime that has seen its effectiveness wane."
• "Treasury Secretary Janet Yellen said in an interview that the U.S. would very likely take steps to enforce the $60-a-barrel price limit that the U.S. and its partners imposed on Russian oil sales."
• "U.S. officials have worried about penalizing the industry too sharply, cutting off a key supplier and exacerbating inflation globally. With enforcement actions, the U.S. will face the delicate task of stopping evasion while not spooking the Western firms from still scooping up Russian oil."